Windward raises $16.5m in third round of funding

Maritime risk analytics firm Windward has raised $16.5m in Series C funding, bringing the total raised to date to $38.9m.

The round was led by San Francisco-based insurtech fund XL Innovate, with existing investors Horizons Ventures and Aleph also participating.

“Round C” backers included several individuals, including Salesforce Chairman & CEO, Marc Benioff.

Tom Hutton, XL Innovate Managing Partner and former CEO of RMS, will become a board director.

Windward said that it would use the money to strengthen its position within the marine insurance market, expediting the development and rollout of its suite of marine insurance products, hiring top talent, and expanding its London office.

Commenting ahead of the Marine Insurance London conference, where he’s a keynote speaker (, Windward Co-Founder and CEO, Ami Daniel, said:

“If there’ s one investor you want to work with in insurtech, it’s XL Innovate. We know they only back the most promising, scalable technologies in the space. We’re delighted they chose us and look forward to putting their funds and expertise to good use, to offer our unique analytics and prediction tools to marine insurers around the world. ”

Windward, founded in 2010, is headquartered in Tel Aviv, with an office in London.