QuickFacts Raises $1.13M to Bolster Software Offering and Accelerate Expansion Across Canada

Halifax, NS – June 8, 2023 - QuickFacts is pleased to announce the successful close of a $1.13 million funding round. This financing is significantly more than our $500k goal, positioning the company for rapid growth and expansion across Canada.

The financing round was led by Sandpiper Ventures, a fund focused on women-led ground breaking technology companies. The investor group also includes Killick Capital, a private investment firm based in St. John's and headed by Mark Dobbin; Paul Hill, ex-Carta Worldwide CEO and Verafin chairman; Neil Mitchell, former managing director at Marsh Canada; both Women's Equity Lab Toronto and Vancouver including their members Julie McGill, Lori Oliver, and Miriam Mowat. This combination of Venture Capital and Angel investors provides excellent support across all business operations to help the company track to key milestones.

QuickFacts Journey

TRACTION

QuickFacts Journey

QuickFacts was founded by Christy Silvestri (President & CEO) and Jeff Barsalou (CRO). We aggregate insurance carrier underwriting information for brokerages into a single searchable database that compares carrier information.

A standard brokerage of 25 users saves an average of $140,000 a year in wasted productivity, or the equivalent of two full-time brokers, using QuickFacts. We have over 30 brokerages and 800 active brokers using our software, with significant growth since our September 2022 launch.

Since February, this recent investment has given us the capacity to grow our team from 10 employees to 16, adding significant development, insurance, and marketing power. Our new hires have enabled QuickFacts to broaden our market reach into Western Canada and to soon launch the highly anticipated workflow software focused explicitly on insurance brokerage operations.

Statement from QuickFacts

"As a broker for 17 years, I spent so much time answering underwriting questions for my team that I couldn't perform my management tasks, so we went and built the software I wanted as a broker and manager. We're drastically improving the morale of brokers by empowering them with the quick answers they need. The industry is seeing a shortage of experienced brokers and a shift to remote work, so QuickFacts is making it much easier for brokers to access underwriting knowledge.

We are thrilled to have secured our funding, which will play a crucial role in fueling our expansion plans across Canada and launching workflows. This investment signifies our investors' confidence and support in QuickFacts' mission to empower brokers with instant, reliable information."

Christy SilvestriPresident & CEO at QuickFacts

Recent Alberta Launch

EXPANSION

Recent Alberta Launch

The funding round close comes on the heels of our recent launch in Alberta, which took place May 9th at the Insurance Brokers Association Alberta (IBAA) Convention 2023. The convention provided an ideal platform for QuickFacts to introduce our advanced data aggregation capabilities to key brokerage decision-makers and insurance industry leaders from across the region. QuickFacts had previously been available across Ontario and Atlantic Canada.

Statement from QuickFacts

"We are extremely proud of launching in Alberta, our first Western Canada province, at the prestigious IBAA Convention. The event allowed us to connect with brokerage owners, carrier decision-makers, insurtech companies, and associations for potential partnerships. There was overwhelming enthusiasm and positive reception for the software, and we've already begun activating in Western brokerages."

Jeff BarsalouCRO at QuickFacts

Growth Plans

FUTURE

Growth Plans

The recently secured funding positions QuickFacts to expand our customer base to the remaining provinces, offer our insurance-specific workflows this Summer, compile our user data into meaningful insights and reports, and start tackling the commercial market in the Fall. QuickFacts is making connections in the US and UK markets in anticipation of our growth plans for 2024.

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Mitchell Matheson Joins QuickFacts as CTO as They Break Into Ontario Market

QuickFacts is pleased to announce that we've expanded our leadership team with a strong industry leader. After supporting QuickFacts for the past six months, Mitchell Matheson has joined QuickFacts as Chief Technology Officer, taking the reins from John Read, President of Colibri Software, acting as Interim CTO.