Janover provided an update on Janover Insurance Group, its insurtech subsidiary for commercial property insurance and more. The Company officially launched Janover Insurance in March 2024 and is pleased to report that Janover Insurance achieved profitability in May 2024. Our total monthly recurring revenue for the month of May increased by more than 60% month over month compared to April 2024. This additional Insurtech revenue increased our overall annual recurring revenue by approximately 5% month over month. Our ARR consists mainly of recurring revenue from our recent Groundbreaker acquisition and Janover Insurance.
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