From AI Insider · James Dargan · · 1m 30s
Kalepa Secures $75M Funding for Insurance AI
Kalepa raises $75 million in Series B funding at $470 million valuation to expand AI in insurance workflows.
In brief
Kalepa raises $75 million in Series B funding at $470 million valuation to expand AI in insurance workflows. Kalepa, an insurance AI platform, secured $75 million in Series B funding at $470 million valuation to scale its professional-grade AI across insurance operations. Originally reported by AI Insider.
Funding Announcement
Kalepa has secured $75 million in Series B funding at a $470 million valuation, led by Updata Partners with participation from IA Ventures and Inspired Capital.
AI Platform Impact
The company’s AI platform coordinates agents across insurance operations, underwriting, pricing and portfolio management, with customers reporting up to 60% more premium per underwriter and a 58% reduction in quote time.
Growth Metrics
Kalepa has tripled revenue and customers over the past year while staying cash flow positive, and will use the funding to expand AI products, enter new markets and double headcount in 2.
Customer Base
Customers include major insurers and MGAs such as W.R. Berkley, Bowhead Specialty, and AmRisc.
CEO Statement
Insurance runs on the judgment of experienced professionals, and our Professional Grade AI is held to that same standard.
“Insurance runs on the judgment of experienced professionals, and our Professional Grade AI is held to that same standard”
Leadership Additions
Kalepa added senior leaders including Garrett Schlesinger as Chief Technology Officer after 12 years at Affirm, David Meister as Chief Revenue Officer, Audrey Howell as Head of Product, and Tim Khoo-Jones as Head of Talent.
Funding History
Kalepa raised $14 million Series A in 2021 led by Inspired Capital and has now raised $91 million in total funding.
The big picture
Kalepa, an insurance AI platform, secured $75 million in Series B funding at $470 million valuation to scale its professional-grade AI across insurance operations.
