Israel’s Anchor nabs seed cheque from Rapyd’s VC arm; Frontegg gets Series A

 Israel’s Anchor nabs seed cheque from Rapyd’s VC arm; Frontegg gets Series A

(From left) Anchor founders Omry Man, Rom Lakritz and Leeor Aharon

Anchor, an Israeli-US startup that builds autonomous billing solutions, has emerged from the stealth mode after raising $15 million in a seed funding round.

The round was led by Rapyd Ventures, the venture capital arm of Rapyd, VC firm Entrée Capital and Tal Ventures, an Israel-based VC firm that has backed 30 companies including Rapyd itself.

The company said in a statement it will use the money to expand its autonomous B2B billing solution. It will also use the funding to expand its team and extend its partnerships and marketing efforts.

Rapyd, which itself recently raised $300 million at a valuation of $10 billion, said it will invest in other fintech companies as well.

Anchor was founded in 2019 by CEO Rom Lakritz, CTO Leeor Aharon and CRO Omry Man. It employs 16 people in its Tel Aviv office, where it mainly carries out research and development work.

Frontegg

Frontegg, an Israeli startup that has developed a user management system for SaaS-based applications, has raised $25 million in a Series A funding round.

New York-based Insight Partners led the round. Pitango First and Global Founders Capital chipped in, too.

The company has so far raised $30 million It will use the new cash injection to fuel its growth by recruiting more people in the US, as it looks to expand its business geographically.

The company was founded in 2019 by CEO Sagi Rodin and CTO Aviad Mizrachi.

Aman Malik

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