ProNavigator offers a purpose-built SaaS knowledge management platform for the insurance industry that leverages AI, chat, smart dialogue systems, machine learning and natural language processing to surface mission-critical information. The platform helps insurance professionals store, manage and use documents that sit outside policy management systems and AMSs, and the company says thousands of insurance professionals use the award-winning product daily. In September 2022 ProNavigator closed $10.0M in growth equity financing to support expansion. The round was co-led by Graphite Ventures and returning investor Luge Capital, with participation from EDC, Tactico and CIBC Innovation Banking. ProNavigator will use the proceeds to accelerate U.S. and Canadian sales, advance product development, and grow the team. Founder and CEO Joseph D'Souza will lead the U.S. expansion from a new second headquarters in Raleigh, North Carolina. ProNavigator provides an AI-powered natural language platform offering chat and voice virtual assistants tailored to the insurance industry. Its models are trained on hundreds of thousands of real insurance conversations and the company offers packaged assistants for sales, service, underwriting, and claims. Products include a chat assistant and a voice assistant that can integrate with Amazon Alexa and Google Assistant, and the assistants can be customized and integrated into existing insurance platforms. ProNavigator says its virtual assistants have automated or semi-automated more than 50% of customer claims, underwriting, service, and sales tasks for clients. Since launching in 2016 the company has signed 80 clients in North America, roughly 75% of which are in Canada, and has opened a satellite sales and marketing office in Chicago. The company plans to use recent funding to expand into the US, grow its Waterloo R&D team (adding about 10 employees to its current 20) and build out phone-line voice calling slated for release in the latter half of 2019.

Total raised

$12M

Funding rounds

2

Latest round

Equity

Latest activity

Sep 2022