News Summary

Toronto-based startup DataBraid has raised $1.9 million USD in pre-seed funding, backed by the Ontario Teachers’ Pension Plan-backed Koru Ventures, to tackle inefficiencies in the insurance industry, specifically the issue of ‘portal hopping.’ This problem requires brokers to manually enter information across various carrier portals, consuming time and resources. DataBraid’s AI-powered software integrates with existing broker management systems, enabling a unified workspace for brokers. Founded by Nick Romano and Atif Khan, the startup seeks to streamline operations for insurance brokers, with Ontario’s Scoop Insurance Brokers as its pilot client.