Quandri, a Canada-based insurance tech start-up, has raised $12m in a new funding round to scale AI automation across North America.  

This brings the company’s total funding to more than $20m since it was founded in 2021. 

The funding was led by Framework Venture Partners and saw investment from FUSE, Defined Capital and Intact Ventures. 

The company said it intends to use the funds to further its market expansion efforts, invest in engineering and AI development, and grow its operations in Canada and the US. 

Quandri CEO and co-founder Jackson Fregeau said: “We have had strong conviction in our vision from day one, but having new investors like Framework and Intact supporting our journey adds real momentum.  

“Their support affirms the value we are delivering to brokerages and agencies, and gives us the insight and fuel we need to keep pushing the industry forward.” 

Quandri has reported a 15-fold increase in revenue since its 2023 funding round and has expanded its client base to more than 100 agencies and brokerages in North America. 

The company has also grown its workforce to 75 full-time employees. 

It has launched several products such as Policy Checking, Policy Requoting and Connect. 

The Renewal Intelligence Platform by Quandri is designed to assist brokers and agents in simplifying processes, identifying key policy insights and improving client experiences during renewals. 

Quandri plans to hire an additional 40 employees by the end of 2025 and is expanding its Vancouver headquarters with a new 15,000ft² office.  

A new office in Boston, US, is also being opened to serve its growing US clientele, the company said.