Financial Services
$50M Series C Fueled by US Media Visibility
A US brand and PR push lifts Novidea's media share of voice and fuels a $50M Series C.
Novidea
The Client
- Company
- Novidea Software
- Website
- novideasoft.com
- Industry
- Computer Software
About Novidea Software
Novidea is a B2B enterprise SaaS company providing cloud-native insurance management software built on Salesforce. They serve insurance brokers, MGAs (Managing General Agents), coverholders, and hybrid fronting carriers with a comprehensive platform managing the entire insurance distribution lifecycle.
The Challenge
Novidea, an Israeli insurtech firm, had been pioneering innovations in insurance policy distribution lifecycle management. It had made real progress in Europe and the Middle East, but the U.S. remained untapped, with its brand almost invisible there.
Our Approach
Chameleon Collective started with an immersive brand messaging session to clarify Novidea's value proposition for a broader audience. With that messaging in hand, we led an extensive website revamp and created updated marketing materials that reflected the renewed brand. At the same time, we built a PR campaign tailored to the U.S. market, positioning Novidea's spokesperson as a thought leader in insurtech. Using customer stories, product announcements, and insights from Novidea's in-house experts, we secured media placements in publications that reached their target audience.
The Impact
The results were significant. Novidea's media share of voice (SOV) surged. From a virtual unknown, it now leads its nearest competitor by 8% in U.S. media SOV. The added visibility and brand recognition also helped springboard the company's Series C, which closed at $50 million led by well-known U.S. VCs.
The Work
The Team
The Chameleons who delivered this engagement.
Practice Areas
Public RelationsCopywriting