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Kalepa raises $75 million Series B at $470 million valuation
New York insurance-AI firm Kalepa said it closed a $75 million Series B led by Updata Partners at a $470 million valuation, bringing total capital to $91 million.
New York insurance-software company Kalepa said it raised a $75 million Series B at a $470 million valuation, led by Updata Partners.
Techmeme summarized a Reuters item that also described the round as $75 million led by Updata at a $470 million valuation for a New York firm whose software is used in underwriting, pricing and portfolio management1.
Kalepa said IA Ventures and Inspired Capital participated and that total capital raised is now $91 million, after a $14 million Series A in 2021 led by Inspired Capital with IA Ventures.
The company said it would use the money to expand its product suite, move into new markets and double headcount in 2027. It also said it has been cash-flow positive for more than two years and that revenue and customer count tripled over the past year; those operating claims were not independently verified in this filing.
Kalepa named customers including W.R. Berkley, Bowhead Specialty and AmRisc. Finextra likewise listed those names and said the firm was founded in 2018.
Finextra quoted CEO Paul Monasterio saying the company's agents can determine whether a submission fits an insurer's appetite and prepare a quote within the authority the insurer gives them. Kalepa's own release used similar language about splitting work between software and people; those product descriptions come from the company.
Kalepa also published underwriting metrics it said insurers using the platform have reported, including more premium per underwriter and faster quote times. Independent confirmation of those figures was not in the coverage reviewed here.
