Sorathia Holdings and Greenlight Re Innovations have joined as new investors for a Series A round of investment led by a group of strategic insurance and technology investors, including existing investor IA Capital which has invested $7.5 million in Summit Commercial Solutions, a tech-enabled commercial insurance brokerage.
The funding will be used to expanding Summit’s footprint across Canada, with new offices, expanded talent acquisition vertical, focusing on bringing new talent to the industry, and deeper presence in key markets.
Additionally, it will also be used to enhance on data infrastructure, workflow automation, and Summit’s AI-powered compliance platform Summit Sherpa, designed to modernise how property managers and businesses handle risk, verification, and policy management.
Lastly, the funding will help scaling new divisions, including Group Benefits, Private Client, and the broker’s emerging delegated underwriting authority ecosystem, to provide comprehensive insurance solutions across commercial, personal, and embedded lines.
Ravi Shah, IA Capital, commented, “Summit is reimagining the broker model – using modern software, data, and AI to make producers more productive, not replace them. Since our investment, they’ve more than doubled top-line revenue and expanded into group benefits while building out internal wholesale capabilities.
“We’re doubling down and proud to partner with Josh, Davis, and the team as they continue to execute with urgency and set a new standard for how commercial insurance is distributed, serviced, and scaled.”
Gilbert added, “Insurance touches every business in this country, yet the industry has been slow to evolve. Summit was built to change that — using data, technology, and modern workflows to deliver faster, clearer, and more transparent outcomes for clients.
“This raise isn’t about scale for its own sake. It accelerates the infrastructure we’ve already validated across thousands of Canadian businesses:: that an independent, tech-enabled brokerage can win at national scale.”
Pillsbury said, “The next generation of great brokers won’t build their careers inside undifferentiated legacy systems. They want a platform that amplifies their impact.
“Summit is that platform—built with modern technology, fuelled by AI, and designed for entrepreneurial brokers who want to win bigger and move faster. This investment accelerates our ability to scale that vision nationally and deliver an unmatched experience for our clients and our people.”
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