ProNavigator, provider of the industry’s only purpose-built SaaS knowledge management platform for insurance, has secured $10M in growth financing to accelerate sales and product development in the US and Canada and grow the team.
ProNavigator founder and CEO Joseph D’Souza will lead the US expansion strategy and additional team from its new, second headquarters in Raleigh, North Carolina.
“We are excited about the expansion opportunity in the US, which will play a key role in growing existing and new customers,” said D’Souza. “The dedication of our investors and the tenacity of our clients reinforce that we are on the right track, especially when it comes to providing a valuable solution for the insurance industry in general.
Referred to as “Google Search for Insurance” by its users, ProNavigator’s proprietary machine learning and AI is trained in specific insurance knowledge so that it understands the types of questions that insurance professionals use and retrieves the right information in 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. Other financing partners include EDC, Tactico and CIBC Innovation Banking.
“The company’s vision and solutions provide value and efficiency for insurance companies, positioning ProNavigator as an insurtech changemaker. We look forward to supporting their ongoing mission to improve the insurance industry for insurers and their customers,” said Aaron Bast, chief executive officer and general partner at Graphite Ventures.
David Nault, General Partner at Luge Capital, added: “ProNavigator’s solution has been 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 build their leadership position in Canada and the US.”
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