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Kelowna-based InsureTech Company Simply Benefits Closes $1 Million First Round of Financing
Thursday, February 6, 2020
News Credit: This story was first created and reported in an original blog post by Accelerate Okanagan
Vancouver, BC, February 6, 2020--(Accelerate Okanagan)--Accelerate Okanagan, a tech association based in the interior region of BC, reported that Kelowna-based InsureTech company Simply Benefits has closed an initial round of funding totalling over $1 million.
"We're looking forward to watching Simply Benefits grow as they take on the challenge of modernizing employee benefits and group retirement savings," says Tony Fairfield, Founder at Fairfield Watson.
Jeff Cox, Founder and CEO, Simply Benefits
"At Simply Benefits we're striving to simplify insurance through innovative technology for a better experience," says Jeff Cox, CEO at Simply Benefits. "This funding will help us expand our operations and reach new heights within the industry".
This round of funding will be used to grow their team and increase market share within Canada. Specifically, the areas that the company will focus on are:
- Growing their sales, development, and marketing teams
- Increasing their market share beginning in western Canada and moving east
- Expanding their product and features
Simply Benefits started production in late 2018 with the mission to modernize the employee benefits and group retirement insurance industry. They've doubled their headcount in under three months, and are rapidly growing to meet the industry's demand to bring employee health insurance into the modern tech age.
Simply Benefits recently moved into their downtown office, and are expected to grow their team by 15-20 employees by the end of 2020.
They are also looking to grow their business in Vancouver, Calgary, and Toronto within the coming months.
About Simply Benefits
We're an innovative employee health insurance provider that allows you to manage your health benefits anytime, anywhere.
About Accelerate Okanagan
At Accelerate Okanagan, our mission is to give new and growing technology-driven businesses the mentorship, connections and community they need to thrive.
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News Credit: This story was reported by Accelerate Okanagan in a blog post announcement (posted by:Harrison Crerar): https://www.accelerateokanagan.com
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