Foxquilt, a Toronto, Canada-based insurance technology company, raised $3.5M in seed funding.
The company intends to use the funds to continue innovating technology and data science.
Led by Mark Morissette, CEO and Co-Founder, Foxquilt provides small businesses and B2B networks with a SaaS platform and a proprietary underwriting infrastructure. Its full-stack underwriting platform leverages smart data and machine intelligence, to discern the nature of the business, underwrite its risks and complement it with the right coverages.
The company has recently partnered with multiple underwriting partners to become a full-service Insurance provider and creator of new products for small businesses. It will be introducing proprietary small business products in the coming months, as well as new distribution channels – including direct-to-consumer, B2B integrations and open APIs with select partners.