ProNavigator, an Ontario, Canada-based provider of the only purpose-built SaaS knowledge management platform for insurance, closed $10 million in growth financing.
The round was co-led by Graphite Ventures and a previous investor, Luge Capital. Additional financing partners include EDC, Tactico, and CIBC Innovation Banking.
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 an 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," said Joseph D'Souza, founder and CEO of ProNavigator. "The commitment from our investors and customer stickiness reinforces that we're on the right track - particularly regarding providing a valuable solution for the insurance industry at large.
Company: ProNav Technologies, Ltd.
Round: Growth Equity
Funding Month: September 2022
Lead Investors: Graphite Ventures and Luge Capital
Additional Investors: EDC, Tactico, and CIBC Innovation Banking
Company Website: https://www.pronavigator.ai/
Software Category: all-in-one knowledge management system
About the Company: ProNavigator is the leading knowledge management platform for the Insurance Industry. The company's platform uses artificial intelligence to guide customers through the purchase and service experience by combining chat, smart dialogue systems, machine learning, and natural language processing, enabling insurance companies to engage with their customers, answer questions, and make policy changes in a cost-effective manner. Thousands of insurance professionals use ProNavigator daily by helping their back office store, manage, and use their documents—like underwriting guidelines, wordings, and endorsements—that sit outside policy management systems, or AMSs. The award-winning platform leverages the latest advancements in artificial intelligence and natural language understanding to instantly, automatically, and accurately retrieve mission-critical insurance information. Learn more about pronavigator.ai.