Verak Overview

  • Year Founded
  • 2020

Year Founded

  • Status
  • Acquired/​Merged

  • Employees
  • 40

Employees

  • Latest Deal Type
  • M&A

Verak General Information

Description

Developer of an online business Insurance software designed to provide consumer-friendly services to micro, small, and medium enterprises in India. The company's platform offers quotes for Fire Insurance, Machinery Breakdown Insurance, Workmen's Compensation Insurance, Director's and Officer's Insurance, General Liability Insurance, and a lot more along with offering detailed explanations on each of them, enabling business owners across India to protect their shops, offices, and warehouses with ease.

Contact Information

Website
www.verak.in
Formerly Known As
BimaPe
Ownership Status
Acquired/Merged
Financing Status
Formerly VC-backed
Corporate Office
  • Office no. 316, 3rd floor, Rupa Solitaire building
  • Millennium Business Park, Thane - Belapur Road, Mahape
  • Navi Mumbai, 400710
  • India
Primary Industry
Insurance Brokers
Other Industries
Financial Software
Acquirer
InsuranceDekho
Vertical(s)
InsurTech, FinTech
Corporate Office
  • Office no. 316, 3rd floor, Rupa Solitaire building
  • Millennium Business Park, Thane - Belapur Road, Mahape
  • Navi Mumbai, 400710
  • India

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Verak Valuation & Funding

Deal Type Date Amount Raised to Date Post-Val Status Stage
3. Merger/Acquisition 04-Apr-2023 Completed Generating Revenue
2. Seed Round 01-Mar-2021 Completed Generating Revenue
1. Accelerator/Incubator 01-Oct-2020 $545K $545K Completed Product In Beta Test
To view Verak’s complete valuation and funding history, request access »

Verak Comparisons

Description
Primary
Industry
HQ Location
Employees
Total Raised
Post Valuation
Last
Financing
Details
Developer of an online business Insurance software designed to provide consumer-friendly services to micro, small, and m
Insurance Brokers
Navi Mumbai, India
40 As of 2023

Bengaluru, India
 
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Verak Competitors (1)

One of Verak’s competitors is ACKO Technology and Services, a Venture Capital-Backed company based in Bengaluru, India.

Company Name Financing Status Location Employees Total Raised Last Financing Date/Type Last Financing Amount
ACKO Technology and Services Venture Capital-Backed Bengaluru, India
You’re viewing 1 of 1 competitors. Get the full list »

Verak Signals

Growth Rate

Weekly
Growth
Weekly Growth

Size Multiple

Median
Size Multiple

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Verak Former Investors (8)

Investor Name Investor Type Holding Investor Since Participating Rounds
Angel (individual) Minority
Gemba Capital Venture Capital Minority
Lightspeed India Partners Venture Capital Minority
Mars Shot Ventures Venture Capital Minority
Titan Capital Venture Capital Minority
You’re viewing 5 of 8 investors. Get the full list »

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Verak FAQs

  • When was Verak founded?

    Verak was founded in 2020.

  • Where is Verak headquartered?

    Verak is headquartered in Navi Mumbai, India.

  • What is the size of Verak?

    Verak has 40 total employees.

  • What industry is Verak in?

    Verak’s primary industry is Insurance Brokers.

  • Is Verak a private or public company?

    Verak is a Private company.

  • What is Verak’s current revenue?

    The current revenue for Verak is .

  • How much funding has Verak raised over time?

    Verak has raised $1.84M.

  • Who are Verak’s investors?

    , Gemba Capital, Lightspeed India Partners, Mars Shot Ventures, and Titan Capital are 5 of 8 investors who have invested in Verak.

  • Who are Verak’s competitors?

    ACKO Technology and Services is a competitor of Verak.

  • When was Verak acquired?

    Verak was acquired on 04-Apr-2023.

  • Who acquired Verak?

    Verak was acquired by InsuranceDekho.

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