Exclusive: Sayata in exclusive talks with potential buyer as sale process advances

By James Thaler

April 28 - (The Insurer) - Cyber insurtech Sayata is in exclusive talks with a potential buyer as it looks to conclude a prolonged sale process that kicked off in the second half of last year, cyber and banking sources said.

The identity of Sayata’s potential buyer and the stage of the negotiations, beyond that they have reached exclusivity, could not immediately be confirmed.

Deutsche Bank has been advising the firm in its search for an acquirer.

Sayata and Deutsche Bank did not immediately respond to a request for comment.

Sayata’s progress towards a sale comes after the insurtech rationalised its workforce last autumn, with head of partnerships Manny Johl and director of sales Tim Regilio among those let go.

Sister publication The Insurer previously reported that Sayata had approached carriers and brokers about a potential acquisition of the platform.

Sayata describes itself as streamlining the quote-bind-issue process for small and medium-sized business risks, allowing insurers and brokers to grow their books in the segment.

The insurtech raised $17 million in a Series A round in August 2021 that was later extended to $52 million in January 2022.

The round was led by early-stage venture capital firm Team8 Capital and Vertex Ventures and also included participation from existing investors Elron, Kamet and OurCrowd, with the extension bringing in strategic investors Pitango Growth and Hanaco Ventures.

Sayata founder and CEO Asaf Lifshitz previously told The Insurer in a statement that the company is “in great financial strength” and that in November 2024 it was “tracking to have its best year” in terms of production, while also trimming its operating costs.

“And our cash position is so strong that even if all of Sayata's revenues disappeared overnight, we'd be able to operate for years,” Lifshitz said at the time.