Team8 announced on Tuesday the appointment of Alon Huri, Co-founder of the insurtech unicorn NEXT Insurance, as a Managing Partner.
Huri will join Rakefet Russak-Aminoach and other partners in Team8’s fintech space, where he will drive ideation initiatives and build new fintech startups. He will also develop growth and online marketing strategies for Team8’s portfolio companies, integrating AI-based technologies that add significant value to Team8’s venture creation methodology.
Alon Huri is a serial entrepreneur and a startup investor, who started his career in tech in 1998. In 2007, he was part of the founding team at Check, a mobile app that automated and consolidated bill pay processes for end users, all in one place. Check was acquired by global fintech giant Intuit for $360 million in 2014, and then went on to become Intuit’s first research and development center in Israel.
In 2016, Huri Co-founded NEXT Insurance, a leading digital insurer transforming small business insurance. To date, NEXT has raised a total of $1.1 billion, with the latest funding coming from a strategic investment by Allstate and Allianz X in November 2023. Huri was responsible for NEXT Insurance’s growth activities and for developing its business intelligence (BI) capabilities. He currently serves as an advisor to the company.
In a conversation with Calcalist, Huri explained why he decided it was time to retire from the company he co-founded. “I have a passion for founding companies, and this motivated me to join the fund. Entrepreneurs face various challenges, and I can contribute from my experience to help prevent mistakes.
“I am joining the existing fund to assist current companies and establish more through it. The 3.5-year-old fund still has money. We have founded three companies and will establish 2-3 more,” says Huri. “I will focus on several areas, including a combination of fintech and AI, online marketing, insurtech, and small businesses, leveraging my abilities.”
Team8 recently announced the raising of three funds totaling $500 million, bringing its total assets under management to over one billion dollars.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.