US-based myCOI, a certificate of insurance (COI) tracking and management solution, has raised $5m in debt financing from SaaS Captial.
myCOI plans to use the capital to fund product development and expand sales, marketing, product and development teams.
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Founded in 2009, myCOI offers both software and services solutions to manage overall insurance risk and tracking, which enables risk mitigation.
myCOI CEO Kristen Nunery said: “Partnering with a highly-respected, experienced group like SaaS Capital enables us to further strengthen our leading position in the market and better empower our more than 450 customers against the disruptive impact of claims. We are thrilled to continue investing in our industry-leading technology that has already been a difference-maker for so many businesses.”
SaaS Capital managing director Rob Belcher said: “As the world becomes more digitized (cybersecurity), more connected (privacy) and faster-moving (automation), ensuring adequate insurance coverage and avoiding policy lapses will only become more and more important for all businesses.
“Kristen has a great vision for the platform and industry, and we are pleased she chose SaaS Capital as her capital partner for this next phase of growth.”
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By GlobalDataRecently, underwriting platform Kalepa raked in $14m in a Series A round led by Inspired Capital.
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