US insurtech Ledgebrook raises US$4.2mn in seed fund round

Insurtech Ledgebrook’s US$4.2mn seed funding round will be used to expand the insurtech’s market presence as it offers new wholesale products

The Boston-based insurtech startup Ledgebrook has raised US$4.2mn in its seed funding round, enabling the company to expand its operations and launch new, disruptive products.

The seed round was led by Brand Foundry Ventures, with participation from American Family Ventures and 15 angel investors. Ledgebrook’s seed funding will also enable it to implement new technologies that will service the E&S markets.

Ledgebrook is a marketplace disruptor

Founded in March 2022 and already an impressive presence in the insurtech space, Ledgebrook aims to launch a broad-appetite E&S GL product (with supported excess) to kick-start its value proposition to wholesale brokers. The company will do this and then expand into a range of additional products that it will bring to market next year.

According to reports, the Ledgebrook leadership team is made up of industry veterans with unique and deep insights into why the lack of automation, traditional pricing methods and outdated technology platforms can be enhanced and therefore result in better rates for insureds. 

Speaking about the recent funding drive - and Ledgebook’s success, Gage Caligaris, Ledgebrook’s Founder and CEO, said, “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.”

An actuary by training, Calgaris is keen to usher in the next-gen technology and service to the sector, which has been underserved - and continues to show slow adoption of innovative technologies. “We’re building Ledgebrook specifically for the wholesale broker."

 Mike Mansell, Principal at American Family Ventures, added, “Our team is thrilled to partner with Ledgebrook, they’re bringing innovation to E&S that the segment hasn’t seen before.”


Featured Articles

How will blockchain technology reshape the insurance market?

Blockchain has the power to completely transform insurance, but are business leaders on board and how do we unleash its full potential?

Karen Lynch: Blazing a trail for the Health insurance sector

Karen Lynch is the President and CEO of CVS Health – a leading US health insurance provider. In 2021, she was the top ranking female CEO in the Fortune 500

Top 10 insurtech incubators and accelerator programmes

These are the biggest insurtech-related incubator and accelerator schemes, which all have proven track records of nurturing promising insurtech startups

InsuranceDekho raises US$150mn in Series A funding round


Could insurance technologies save more lives in earthquakes?

Technology & AI

Capgemini's Samantha Chow talks changes in Life insurance