Quandri Secures US$12m Series A for Insurance AI Platform
Quandri has closed a US$1m Series A funding round to accelerate expansion of its artificial intelligence platform across North American insurance brokerages and agencies.
Framework Venture Partners led the round, with participation from Intact Ventures and follow-on investments from existing backers FUSE and Defined Capital.
The Vancouver-based company has now raised over US$20m since its 2021 inception.
The latest funding will support go-to-market activities, engineering development, and operational expansion across Canada and the United States.
Revenue surge drives expansion
The insurtech has demonstrated significant traction since its previous funding round in 2023. Revenue has increased 15-fold during this period, while the customer base has expanded to over 100 agencies and brokerages across both countries. Headcount has grown from 15 to 75 full-time employees.
Notable clients include Brokerlink, Western Financial Group, HomeServices Insurance Inc., and BlueRidge Risk Partners.
The platform processes policy reviews, renewal insights, and client engagement workflows for these brokerages.
Quandri's Renewal Intelligence Platform automates policy checking, requoting processes, and client communications.
The system aims to improve retention rates and revenue generation for insurance intermediaries whilst enhancing customer experience.
Product development accelerates
The company has launched three core products since 2023: Policy Checking, Policy Requoting, and Connect.
These tools enable brokerages to automate policy reviews, identify renewal opportunities, and streamline quote generation processes.
"As we expand our use of the platform, we see Quandri playing an increasingly strategic role in how we deliver service and drive growth"
Chris Rosati, President and CEO at HomeServices Insurance Inc., says the platform has improved operational efficiency. "Their AI platform has helped us operate more efficiently, improve how we engage clients, and focus our teams on higher-value work," Rosati says.
"As we expand our use of the platform, we see Quandri playing an increasingly strategic role in how we deliver service and drive growth."
Investment rationale
Framework Venture Partners identified the opportunity within legacy insurance distribution channels.
Ajay Gopal, Partner at Framework Venture Partners, says the investment reflects confidence in Quandri's approach to modernising broker workflows.
"Quandri is solving a massive pain point in a legacy industry, and they're doing it with a deep product focus and clear ROI," Gopal says.
"In the new world of AI and automation, Quandri is supporting brokers in delivering top-tier customer experience"
"The company's plans to scale across North America will ensure their groundbreaking platform is available to thousands more brokerages and agencies serving the personal lines insurance market."
Intact Ventures, backed by one of North America's largest property and casualty insurers, participated in the round.
Justin Smith-Lorenzetti, Head of Investments at Intact Ventures, emphasises the strategic importance of broker modernisation.
"In the new world of AI and automation, Quandri is supporting brokers in delivering top-tier customer experience, something that aligns with Intact's broader values around being customer-driven," Smith-Lorenzetti says.
Expansion plans
Quandri plans to hire more than 40 people during the remainder of 2025. The company is relocating its Vancouver headquarters to a 15,000-square-foot office space and establishing a Boston office to serve its growing United States customer base.
The insurance brokerage market represents a significant opportunity for automation technology. Traditional processes involve manual policy reviews, renewal preparations, and client communications that consume considerable broker time and resources.
Jackson Fregeau, CEO and co-founder of Quandri, acknowledges the validation provided by new investors. "We've had strong conviction in our vision from day one, but having new investors like Framework and Intact supporting our journey adds real momentum," Fregeau says.
"Their support affirms the value we're delivering to brokerages and agencies, and gives us the insight and fuel we need to keep pushing the industry forward."