Toronto, ON – September 3, 2020
GreenSky Capital Inc. is pleased to announce that its affiliated venture fund, the GreenSky Accelerator Fund III has co-led a $5.6M financing in ProNav Technologies Ltd. (“ProNavigator”). ProNavigator is an insurance technology company that helps leading carriers and brokerages overcome information barriers. Other investors in the round were Luge Capital, MaRS Investment Accelerator Fund, iNovia Capital, BDC, and CIBC Innovation Capital. This round brings the company’s total amount raised to $7.8 million. The new capital will be used to hire key resources to power expanded operations in the U.S. and Canada, and to extend ProNavigator’s product line.
Greg Stewart, Managing Partner at GreenSky Capital, said: “Joseph and his team have demonstrated a very strong capacity to react to customer needs and to ‘land and expand’ with key customers. Having led the previous round of financing, we’re thrilled to see ProNav attract a broad array of sophisticated investors, and we’re looking forward to the company’s next stage of growth.”
More information can be found on ProNavigator’s press release.
Early-stage Canadian technology companies interested in working with GreenSky Capital are invited to learn more about, and apply to, the GreenSky Accelerator Funds at email@example.com.
About GreenSky Capital Inc.
GreenSky Capital Inc. is an award-winning Toronto-based firm that makes investments in early-stage Canadian technology companies through its affiliated venture capital funds, GreenSky Accelerator Fund I, II and III. Our principals bring a combination of experience in technology, entrepreneurship, law and finance to high-growth potential companies and dedicated entrepreneurs.
ProNavigator provides an AI-based platform, used by some of the largest insurance organizations in North America, to enable insurance companies to save time, provide superior service, and seize revenue opportunities. The platform leverages the latest advancements in artificial intelligence and natural language understanding to instantly, automatically and accurately retrieve answers to questions asked by customers and employees. It includes an intuitive search and retrieval interface built specifically for insurance to answer a broad range of underwriting questions, in natural language, across multiple carriers, products, regions, and documents.