Israeli maritime risk management startup Windward has announced the closing of a $16.5 million Series C financing round. The company plans to use the investment to hire dozens of development employees in Tel Aviv and to expand its offices in London. The round was led by US insure-tech fund XL Innovate, which has already invested in Israeli digital insurance company Lemonade, among others. Windward’s existing investors also took part in the round, including Chinese billionaire Li Ka-shing’s Horizon Ventures fund and the Aleph Fund, as well as private investors such as Salesforce founder, chairperson, and CEO Marc Benioff. As part of the investment, XL Innovate managing partner Tom Hutton will join Windward’s board of directors. Windward has raised $38.9 million to date.
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