Modular Solutions Closes Financing Round to Drive Innovation in the Insurance Industry
Modular Solutions provides next-gen insurance SaaS technology that enables providers to break free from archaic, siloed legacy software, enabling improved operational efficiency, financial performance, and customer experience. Modular's platform is purpose-built to empower insurers and brokers with technology that is responsive to a competitive industry, transforming workflows and automating critical and time-consuming operations.
'This capital raise marks a pivotal moment for Modular,' said Braden Bosch, Founder and CEO of Modular Solutions. 'We have brought an innovative software solution to the market, and with this investment, we can ensure low total cost of ownership and affordability while continuing to optimize and enhance our offering even further.'
'Tailwind is delighted to have supported Modular in securing this financing. Braden and the team at Modular are building transformative solutions for an industry in desperate need of innovation, and our capital partners share our conviction that Modular will deliver,' said Darren Engels, Tailwind Ventures CEO.
Engels added 'Tailwind is committed to its purpose of diligently preparing companies to scale and attract capital so they can create impact and value. Tailwind applies a proprietary, holistic and structured approach that we call diligent preparedness to build a better business. Better businesses go on to withstand the scrutiny of due diligence, secure capital, and generate returns for shareholders.'
Cody Church, Director of Clear North Capital, shared his enthusiasm regarding the investment, stating, 'We were honoured to invest in Modular and are excited to watch the evolution of the Company. Braden was very strategic in his investment partners, all of which are local high net worth individuals and venture firms that bring a lot of strategic value to the business.' This network of investors not only reinforces the Company's vision but ensures a collaborative approach to driving growth and innovation in the insurance industry.
Modular's capital raise represented the fifth largest seed stage financing for Insurtech companies in North America, while also achieving the second highest pre-money valuation.1 It is a credit to Braden Bosch and the Modular Solutions team for their dedication to being diligently prepared and to creating impact and value for their investors.
Bosch remains the majority shareholder of Modular Solutions and remains committed to the Company's vision: enabling the best insurance experience in the world.
About Modular Solutions
Founded in 2015, Modular Solutions has been delivering innovative technology to the insurance industry. Their modular, fully integrated platform enables insurers, mutuals, MGAs and brokers with programs with the ability to manage their entire operations seamlessly through a single software solution. Designed to be affordable and configurable, their platform empowers businesses to innovate, adapt and thrive in an evolving and competitive market. Modular Solutions is based in Calgary, Canada.
For more information about Modular Solutions, visit gomodular.ca.
About Tailwind Ventures
Tailwind Ventures empowers early- and growth-stage companies to withstand the scrutiny of due diligence and secure capital. Tailwind's diligent preparedness process enables ventures to build stronger businesses and improve the risk-reward relationship for ventures and investors. Tailwind Ventures has raised over C$370 million for clients since 2022. Tailwind is based in Calgary, Canada.
For more information about Tailwind Ventures, visit tailwindventures.co.
Forward-looking statements
Certain statements contained in this press release relate to future events, conditions, or outcomes with respect to Modular's business, its customers, technology, and the broader tech industry. All statements other than statements of historical fact may be forward-looking statements and are often, but not always, identified using words such as 'believes', 'seek', 'plan', 'expect' and similar expressions.
This press release is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation for any securities.
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SOURCE Tailwind Ventures Inc.
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