ProNavigator, provider of the only purpose-built SaaS knowledge management platform made for insurance, has closed $10 million of growth financing to accelerate U.S. and Canadian sales and product development and grow the team.
ProNavigator founder and CEO, Joseph D’Souza, will lead the U.S. expansion strategy and additional team from the new, second headquarters in Raleigh, North Carolina.
“We are excited about the U.S. expansion opportunity, which will play a key role in growing existing and new customers,” says D’Souza. “The commitment from our investors and customer stickiness reinforces that we’re on the right track – particularly as it relates to providing a valuable solution for the insurance industry at large.
Referred to by its users as “Google Search for Insurance,” ProNavigator’s proprietary machine learning and AI are trained on specific insurance knowledge, so it understands the types of queries insurance professionals use and retrieves the right information within seconds. ProNavigator’s solution has been implemented by leading industry players, including insurance industry heavyweights such as TD Insurance, Wawanesa, HUB International, and NFP.
The financing was co-led by Graphite Ventures and previous investor, Luge Capital. Additional financing partners include EDC, Tactico, and CIBC Innovation Banking.
“The company’s vision and solutions are providing value and efficiencies for insurance companies, positioning ProNavigator as an insurtech changemaker. We look forward to supporting their ongoing mission of improving the insurance industry for insurers and their customers,” said Aaron Bast, managing director and general partner at Graphite Ventures.
David Nault, general partner at Luge Capital, added: “ProNavigator’s solution has proven to significantly accelerate response times to customer and advisor inquiries saving time and money. They are accelerating as the category winner in knowledge management for the insurance industry, and this funding round helps further grow their Canadian and U.S. leadership position.”
SOURCE: ProNavigator
Topics Funding
Was this article valuable?
Here are more articles you may enjoy.
Ford Recalls 668,000 2014 F-150 Pickup Trucks Over Transmission Issue 
US P/C Insurers Post Best Q1 Underwriting Result In 17 Years 
BlackSuit Cybercrime Gang Blamed in CDK Hack That Roiled Car Dealers 
German Insurtech Wefox to Replace CEO After Board Rejects Mubadala Sales Plan 
