Daisy Intelligence, a Toronto, Canada-based AI SaaS platform, raised CDN$10m in Series A financing.
The round was led by Framework Venture Partners with participation from Sonae IM.
The company intends to use the funds to invest in sales and marketing, provide support for its customer success teams, and expand its operational infrastructure.
Led by Gary Saarenvirta, founder and CEO, Daisy provides an AI-powered technology platform for retailers and insurance companies to generate improved financial results by delivering business recommendations and automating complex processes beyond human capability.
The platform analyzes 100% of an organization’s transactions, executing billions of simulations daily to deliver optimized merchandise planning and risk management decisions for its clients.
The proprietary AI technology, which uses reinforcement learning, is attracting a growing client base across the U.S., Canada, Latin America, and Europe based on a record of proven business results.
Insurance companies use its AI-powered risk management platform to detect and avoid millions of dollars in fraud and automatically adjudicate claims.