Breathe Life, a Montreal, Canada-based provider of a SaaS platform for the life insurance industry, secured an additional $11.5m CAD in funding.
The round included:
- a $6.5m Series A co-led by Real Ventures & Investissement Québec with participation from Clocktower Technology Ventures, Cameron Ventures, Desjardins, NAventures, and Diagram Ventures; and
- a $5m made up of a $4.2m debt financing from National Bank of Canada’s Technology and Innovation Banking Group and various government grants.
The company intends to use the funds to enhance its digital distribution platform for insurance carriers.
Led by Ian Jeffrey, CEO, Breathe Life provides insurers with a modern digital platform for the distribution of life insurance products that increases sales and speed of policy delivery while reducing operational costs. The company enables carriers to deliver a fully-branded, user-centric experience that streamlines the online buying process for consumers.
Breathe Life’s omnichannel platform leverages data silos to unify customer information into a single profile, making it easier to convert leads to policies across products and channels. Advanced analytics and machine learning continuously provide recommendations on product and market opportunities to help grow customer-lifetime value. Today, carriers across the U.S. and Canada are using the platform to increase sales and premiums while reducing customer acquisition costs.