To Revolutionize Insurance Industry, Insurtech Ledgebrook Nabs $4.2M

August 18, 2022 | 2 minutes read

Insurtech startup Ledgebrook has gathered seed funding of $4.2M in a seed round.

Boston based insurtech, Ledgebrook has raised $4.2M in  seed funding to build out its operations with the goal of writing its first policies in Q4 of 2022.

With the fintech industry on exponential rise, insurtech has become a prominent vertical.  Many insurtech startups such as Insoore, Orus, Helvengo, Stoic, Coterie, and Justos are also jumping to serve the clients as well as are supporting the rise of the industry.  As per figures Fintech Market is expected to reach the value of $305 Billion by 2025 mainly supported by app development .

But now Ledgebrook is on a mission to revolutionize the industry and bring speciality insurance into the modern era. And positioned at the cutting edge of the next generation, the startup offers technology deployed by a leadership team armed with decades of insurance expertise.

However, their long term vision is to become a diversified full stack speciality re/insurer competing with the legacy carriers in the product line and market across the world.

However, to make Ledgebrook’s mission reality its  seed round was led by Brand Foundry Ventures with the participation from American Family Ventures and 15 angel investors. And with this fresh injection of funds the startup aims to build out the team, technology and operational infrastructure to launch its first product.

Furthermore,  the startup Founder and CEO Gage Caligaris is also looking to provide fast and easy quoting experience to wholesale brokers. Whilst delivering pricing and list selection via their innovative next generation tech stack. It also plans to launch a broad-appetite E&S GL product ahead of expanding via multiple additional product launches in 2023.

Caligaris, also stated,

“The E&S markets are ripe for disruption as brokers and customers aren’t well served by the slow, unsophisticated quoting processes of legacy players..“We’re building Ledgebrook specifically for the wholesale broker,”