Best Internet First Insurance Platforms Companies in Canada
The 108 best Internet First Insurance Platforms companies in Canada in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Rates.ca.
Canada's Internet First Insurance Platforms sector has 108 companies tracked, $165M in total disclosed funding, and zero unicorns yet — which tells you exactly where the opportunity sits. Apollo Insurance leads the pack at $25M raised, followed by BOXX Insurance at $24M and PolicyMe at $16M. The global market these players are chasing hit roughly $102.2B in 2020 and is forecast to reach $186.4B by 2027, a 9.0% CAGR that's hard to ignore. App-side momentum backs that up: median install growth across insurance apps is running at about +14% YoY across 4,132 tracked apps, which I'd call the clearest real-time signal that consumers are actually converting to digital-first coverage.
So what's driving the build? AI and machine learning are reshaping underwriting relevance, blockchain is starting to give digital policy models actual structural integrity, and shifting consumer habits are pulling demand faster than legacy carriers can respond. Security concerns remain the main regulatory friction point you'll want to watch. Foxquilt ($11M) and YouSet ($4M) round out the funded cohort, backed by investors including MaRS Discovery District, Lloyd's, and Ferst Capital Partners. No unicorn yet, but with this much capital concentrated in a handful of early movers and a global tailwind behind them, the ceiling here isn't hard to see.
- ResearchAndMarkets.com
Ranked: Best Internet First Insurance Platforms companies in Canada
| # | Company | Employees | Disclosed funding | Last round | Founded | Founder | Tech stack | Patents & IP focus | Recent signals |
|---|---|---|---|---|---|---|---|---|---|
| 1 | PolicyMe Online life insurance comparison platform for individuals 64Tech top 25%Market top 35%Talent top 38%Moat top 39% All 8 signals ▾Techtop 25% Markettop 35% Talenttop 38% Moattop 39% Fundingtop 43% Growthbottom 48% Globalbottom 39% Newsbottom 18% Tech: 47 technologies across 6/8 capability areas · Cloud: Amazon Alb, Amazon Cloudfront Market: 2,802 employees (top 2% of FinTech) · Top-1,000,000 web property rank vs industry peers · Fliar Intelligence Index 64/100 | 2,802 | $16M | 14 mo ago | 2018 | Andrew Ostro Co-Founder & CEO | WebflowSentryMarker+35 | — | — |
| 2 | caa south central ontario Canada’s largest not-for-profit Automobile Association with over 2 million Members in South Central Ontario. | 1,500 | — | — | 1903 | — | SitecoreContentfulFirebase+29 | 8 patents Patents concentrated in computing, sensing & instrumentation | — |
| 3 | BCAA Online comparison platform for life, home and travel insurances | 1,197 | — | — | 1931 | — | Amazon WebstoreCKEditorBootstrap+28 | — | 1 partnership |
| 4 | GSC Provider of multiple healthcare services for individuals and organizations | 819 | — | — | 1957 | — | WebflowAlgoliaAmazon Web Services+14 | 21 patents Collapsible furniture mechanisms and self‑bailing marine valve systems | — |
| 5 | Rates.ca Online insurance comparison platform for individuals | 400 | $51M | 63 mo ago | 2014 | Igal Mayer President & CEO | SentryZendeskApple iCloud Mail+25 | — | — |
| 6 | Canadian Direct Provider of a platform for car and home insurance products | 201 | — | — | 1996 | — | — | — | — |
| 7 | Compu-Quote Provider of comparative insurance rating applications. | 160 | — | — | — | — | — | — | — |
| 8 | Intelligent Mechatronic Systems Provider of telematics solutions for insurance | 140 | $4M | 154 mo ago | 1999 | — | — | — | — |
| 9 | CAA Manitoba Online comparison platform for life and non-life insurances | 106 | — | — | 2000 | — | Cart FunctionalityScalaAnt Design+25 | — | — |
| 10 | Apollo Insurance Online P&C insurance comparison platform for individuals and businesses | 79 | $25M | 24 mo ago | 2018 | David Dyck Chief Marketing Officer | Founder | ContentfulSentryApple iCloud Mail+23 | — | 1 launch · 1 partnership · 1 award |
| 11 | bow valley insurance Bow Valley Insurance is a brokerage of various types of insurances. | 55 | — | — | 1979 | — | — | — | — |
| 12 | Foxquilt Platform enabling formation of social groups to avail insurance savings 42Growth top 35%Moat top 39%Tech top 41%Funding top 44% All 10 signals ▾Growthtop 35% Moattop 39% Techtop 41% Fundingtop 44% Producttop 49% Talentbottom 49% Innovationbottom 46% Globalbottom 36% Marketbottom 35% Newsbottom 21% Growth: Fresh capital in last 24 mo Moat: Editorial + unicorn rating 7/10 · 10 curated direct competitors tracked rank vs industry peers · Fliar Intelligence Index 42/100 | 52 | $11M | 13 mo ago | 2016 | Mark Morissette Founder & CEO | SanityApple iCloud MailGoogle Workspace+20 | — | 1 partnership |
| 13 | EasyInsure Online insurance broker platform | 50 | — | — | 2007 | — | Microsoft ASP.NETBootstrapAmazon Web Services+17 | — | — |
| 14 | BOXX Insurance Provider of cyber insurance and security solutions for businesses and homes | 43 | $24M | 40 mo ago | 2018 | Vishal Kundi Founder & CEO | WordPressMySQLPHP+38 | — | — |
| 15 | Emma Online life & auto insurance comparison platform for individuals | 43 | $7M | 42 mo ago | 2017 | Guillaume Plante Co-Founder | WebflowApple iCloud MailGoogle Workspace+16 | — | — |
| 16 | Goose Digital insurance provider offering a range of insurance solutions for individuals | 20 | $6M | 40 mo ago | 2017 | Omar Kaywan Co-Founder | StoryblokApple iCloud MailGoogle Workspace+11 | — | — |
| 17 | Sitata Online platform that provides location-based health & other emergency information for travelers | 20 | $120K | 90 mo ago | 2012 | Mark Pavlides Advisor to Founder | BreakdanceWordPressMySQL+16 | — | — |
| 18 | Raven Connected IoT-enabled vehicle tracking & driver monitoring solutions | 20 | — | 47 mo ago | 2015 | — | WordPressMySQLPHP+23 | 4 patents Integrated vehicle and wearable telematics with camera sensor data processing | 1 launch |
| 19 | Zensurance Insurance platform for SMEs | 15 | $2M | 95 mo ago | 2016 | — | Amazon WebstoreWordPressApple iCloud Mail+44 | — | 5 awards |
| 20 | YouSet Provider of online platform for comparing and purchasing insurance policies | 13 | $4M | 22 mo ago | 2017 | Xavier Freeman Co-Founder and CEO | WordPressMySQLPHP+36 | — | 1 launch · 5 partnerships |
Top 12 Internet First Insurance Platforms companies in Canada
#1
Series B · Toronto, Ontario · founded 2018 · 2802 employees$15.8Mraised▾
Online life insurance comparison platform for individuals. It provides quotes for term life insurance and whole life insurance. Its insurance partners include RBC Insurance, Manulife, Canada Life, and more. It also offers insurance claims assistance solutions.
- Apr 2025Series B$21.6M
- Apr 2025Conventional Debt—
- Sep 2022Series A$13.5M
- Jul 2022Conventional Debt$5M
#2
Series B · Toronto, Ontario · founded 2016 · 52 employees$11.1Mraised▾
Foxquilt is a platform which enables users to form social groups and using group purchasing power, avail savings on premiums, reduced deductibles and further savings at renewal. Leverages a sharing economy technology platform so that groups of individuals or businesses seeking the same type of insurance can band together to save. As of Oct'18, the platform is yet to launch a product.
- Apr 2025Series B$216.9K
- Jul 2023Series B$12M
- Sep 2021Series A$6.3M
- Feb 2020Seed$2.6M
#3
Series C · Vancouver, British Columbia · founded 2018 · 79 employees$24.9Mraised▾
Online P&C insurance comparison platform for individuals and businesses. It offers quotes for professional liability insurance, home insurance, auto insurance, health, beauty, fitness insurance, retail store insurance for retail stores, and more. It also offers claim assistance solutions for users.
- May 2024Series C$13.5M
- Mar 2022Series B—
- Jan 2021Series A$10.6M
- Apr 2019Angel$744.1K
#4
Seed · Montreal, Quebec · founded 2017 · 13 employees$3.9Mraised▾
Provider of online platform for comparing and purchasing insurance policies. The platform allows users to compare policies from multiple insurance providers. It offers various types of insurance, including car, home, tenant, and condo. Users can customize their coverage and purchase policies online or with expert assistance.
- Aug 2024Seed$2.6M
- Aug 2022Seed$1.3M
#5
Acquired · Toronto, Ontario · founded 2018 · 43 employees$24.5Mraised▾
Provider of cyber insurance and security solutions for businesses and homes. It offers tools to help prevent, respond to, and recover from digital risks. Coverage protects technology providers from claims related to software, service, or product failures. Support tools help businesses monitor threats, guide response, and strengthen cybersecurity. The company develops cyber protection services to enable corporate partners to provide solutions to their customers.
- Jan 2023Series B$14.4M
- Sep 2021Series A$10M
#6
Seed · Toronto, Ontario · founded 2023 · 2 employees$3.1Mraised▾
API-based platform for integration of telematic solutions into applications. The platform enables users to track vehicle location, report unsafe driving behaviors, monitor driver's hours of service, fleet management, and more.
- Dec 2023Seed$3.1M
#7
Acquired · Toronto, Ontario · founded 2014 · 400 employees$51Mraised▾
Rates.ca provides an online insurance comparison platform for individuals. It offers quotes for auto insurance, travel insurance, life insurance, home insurance, health insurance, and more. It also offers an investment and bank account comparison platform.
- Mar 2021Series C$51M
- Mar 2021Conventional Debt—
#8
Series A · Vancouver, British Columbia · founded 2017 · 20 employees$6.2Mraised▾
Digital insurance provider offering a range of insurance solutions for individuals. The platform offers on-demand insurance policies based on the number of days. It features alerts, notifications, and an emergency service locator. Its policy covers travel medical, trip cancellation, and baggage insurance. The app is available for Android and IOS platforms.
- Feb 2023Series A$3M
- Aug 2018Seed$2.2M
#9
Series A · Montreal, Quebec · founded 2017 · 43 employees$7Mraised▾
Online life & auto insurance comparison platform for individuals. It offers life insurance including child protection, term life insurance, death benefit, and more. It also offers car insurance, home insurance, pet insurance solutions, and more.
- Nov 2022Venture Debt$2M
- Apr 2022Series A$4.7M
#10
Series A · Toronto, Ontario · founded 2018$10Mraised▾
Cyberboxx provides an online cyber insurance platform for small & medium businesses. It offers coverage for data hacking, data breaching, data security, and more. It also offers quoting and binding software for insurance brokers. It offers subscription-based insurance policies.
- Sep 2021Series A$10M
#11
Acqui-Hired · Waterloo, Ontario · founded 1999 · 140 employees$4Mraised▾
Provider of telematics solutions for insurance. It provides telematics solutions to deliver the connected car experience. It is targeted toward usage-based insurance but also can provide a host of other services like monitoring, training, reward points, and fleet management.
- Jul 2013Conventional Debt$4M
#12
Acquired · Toronto, Ontario · founded 2016 · 15 employees$2.2Mraised▾
Zensurance is an online platform that helps startups and small businesses to manage all their business insurance needs. It lets them to identify the policies tailored to their businesses and compare rates from insurance companies. It provides insurance quotes for hotel, media, financial services, real estate, healthcare industry etc.
- Jul 2018Seed$1.2M
- Nov 2016Seed$1M
- Oct 2016Grant (prize money)$25K
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of Internet First Insurance Platforms coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
Common questions
Rohit lives in the feed. He covers what's moving right now — the funding rounds, launches and shifts breaking across the trade press — and ties them back to where the sector is heading.