Canadian technology firm Daisy Intelligence has raised C$10m ($75,33,700) in Series A financing to scale up its AI-based platform for insurers and retailers.

Led by Framework Venture Partners, the funding round also involved the participation of European corporate investor Sonae IM.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Daisy plans to invest the funds to expand its business overseas. It also intends to spend the fund on sales and marketing strategies besides enhancing its operational infrastructure to meet future growth.

Daisy said that its AI-powered technology platform offers business recommendations and automates complex processes, enabling insurers to achieve better financial results.

The firm’s AI-based risk management platform is being tapped by insurers across the globe to identify fraud and automatically adjudicate claims.

Daisy Intelligence founder and CEO Gary Saarenvirta said: “This financing round reflects the growing interest in our AI-powered platform from companies around the world looking to drive higher sales and profits with our unique technology that helps them make business decisions.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“This investment supports Daisy’s mission to empower people to achieve their best by using machine intelligence to help them with the most difficult tasks, freeing up their time to focus on more strategic business matters. With support from the world-class investors at Framework and Sonae IM, we are incredibly well positioned to execute on our vision.”

The AI-driven platform of Daisy is said to enable insurers to evaluate 100% of an organisation’s transactions, executing billions of simulations everyday to provide enhanced merchandise planning and risk management.