On September 2, 2020, ProNavigator completed its $5.6 million financing round. The financing round was co-led by Luge Capital as well as GreenSky Capital and MaRs IAF, and included CIBC Innovation Banking, iNovia Capital and the Business Development Bank of Canada. The funding will be used to increase ProNavigator’s presence in the United States through a partnership with BrokerTech Ventures. The new capital will also be used to hire key resources to power expanded operations in the U.S and Canada.
ProNavigator is an InsurTech firm focused on its AI-Powered Virtual Assistant for the Insurance industry that drives sales and productivity. ProNavigator’s platform specializes in helping carriers and brokerages manage information by aiding customers with quotes, filing claims and answering questions.
CIBC Innovation Banking is a financial partner to entrepreneurs and investors, specializing in providing financial capital, network connections and insightful service.
Osler, Hoskin & Harcourt LLP advised CIBC Innovation Banking with a team consisting of Joyce Bernasek (Financial Services) and Mathieu Lam (Osler Works Transactional).