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The new funding will be used for continued product innovation, customer experience improvements, and new hires primarily within the sales, marketing, product, and development departments.
FREMONT, CA: My COI, a certificate of insurance (COI) tracking and management solution, had announced it had secured $5 million in debt financing to fuel its continued growth as an industry leader in the COI tracking space. The funding comes from SaaS Capital, a leader in growth debt for B2B SaaS companies.
"Since founding myCOI more than a decade ago, we've always been hyper-focused on protecting our customers. We are committed to delivering an exceptional experience through our software and insurance expertise in an ever-evolving industry," said Kristen Nunery, CEO of myCOI. "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."
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By focusing on technology improvements, Nunery says myCOI can provide risk mitigation services to even more clients while better serving existing ones. The new funding will be used for continued product innovation, customer experience improvements, and new hires primarily within the sales, marketing, product, and development departments.
"SaaS Capital is excited to partner with myCOI," said Rob Belcher, Managing Director of SaaS Capital. "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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