ProNavigator, provider of the only purpose-built SaaS knowledge management platform made for insurance, has closed $10 million of growth financing, co-led by Graphite Ventures and previous investor, Luge Capital. Additional financing partners include EDC, Tactico, and CIBC Innovation Banking. GreenSky Capital led ProNavigator’s Seed round and co-led the company’s Series A.
ProNavigator will use this latest funding round 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.
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.
“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.”
More details available here.