Breathe Life Secures $3.4M

Breathe Life has raised $4.5m CAD in a seed round led by Diagram Ventures with participation from Real Ventures. The company targets life & health players by offering a white-label solution to “quickly and more cost-effectively find and convert new customers.”

“The life insurance industry faces distribution challenges as more consumers expect a fast and seamless digital buying experience. At the same time, the opportunity for providers to target and engage with consumers on their own terms has never been greater. Breathe Life helps distributors tap into vast and underserved markets with digital solutions that make it more efficient and cost-effective both to find and acquire new customers and nurture existing ones.” – Cofounder and CEO at Breathe Life, Ian Jeffrey.

“We believe that fundamental trends, like mobile, micro-segmentation, the explosion of data, and changing customer expectations, have just begun to transform the life & health insurance industry, making it possible to cost-effectively address market opportunities that were not viable only a few years ago. Breathe Life is helping insurance carriers and distributors to get ahead of the pack, taking advantage of the latest technologies to win market shares vs. traditional competitors and to compete head-to-head with technology-first new entrants. The experienced team of entrepreneurs and operators at Breathe Life have made incredible progress to date, and we look forward to supporting the company as it continues to grow.” – Founder and CEO of Diagram Ventures, Francois Lafortune.

Bottom Line: National Bank realized an 18% increase in sales and a 26% increase in first-year premiums while decreasing the cost of customer acquisition by 33% – in just 13 weeks of using Breathe Life.