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- 📝 DataBraid raises $1.9M
📝 DataBraid raises $1.9M
Liam Gill
June 10, 2026
News of the Day
Toronto-based insurtech startup DataBraid has raised $1.9 million in pre-seed funding from the Ontario Teachers' Pension Plan (OTPP)-backed venture studio Koru Ventures to eliminate a massive operational bottleneck known as "portal hopping." Launched in late 2025, following collaborative troubleshooting sessions between Koru and OTPP-owned Scoop Insurance Brokers, DataBraid addresses the quiet erosion of brokerage profit margins caused by agents manually logging into fragmented, isolated insurance carrier networks to repeatedly re-enter the same applicant data. Led by CEO Nick Romano, who previously sold his deep learning optimization startup, Deeplite, to STMicroelectronics, and CTO Atif Khan, the six-person engineering team has built an AI-driven unified workspace that integrates directly with existing broker management systems, enabling data to propagate instantly across carrier ecosystems with zero manual data entry. This inaugural equity round, which quietly closed in April, will be deployed to expand DataBraid's technical roster, deepen programmatic carrier integrations, and scale its initial commercial rollouts in Ontario using Scoop’s footprint of 300 insurance brokers as its primary launchpad.
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