Ledgebrook Secures $4.6M Funding: Accelerating Growth and Innovation in Insurtech for Wholesale Brokers

Ledgebrook, an insurtech based in Boston, has announced that it raised $4.6 million in a recent funding round. This funding will be used to scale the company’s flagship non-admitted GL & Supported Excess product and to support the development of future offerings.

Details of the funding round

Parker Beauchamp at Markd led the funding round, with participation from Brand Foundry Ventures and a handful of other angel investors. The round was structured as an uncapped Simple Agreement for Future Equity (SAFE). In total, Ledgebrook’s funding now amounts to $8.8 million, including the $4.2 million previously raised in seed funding.

Quotes from Key Players

“Parker Beauchamp expressed his confidence in Ledgebrook’s founder, Gage Caligaris. ‘For many reasons, I love and have an immeasurable amount of confidence in Gage, and I want to help him in any way that I can,’ he said.”

“Gage Caligaris, the Founder & CEO of Ledgebrook, expressed his excitement about bringing Beauchamp on board. ‘I’m absolutely thrilled to bring Parker aboard Team Ledgebrook,’ he said.”
Caligaris also noted that the funding infusion came at an opportune time for the company as it looks to build out its team, technology, and operational infrastructure to launch additional lines of business. “This opportunistic capital infusion couldn’t come at a better time,” he added.

Impact of the funding

With this funding, Ledgebrook will be able to expand its product offerings and strengthen its team. The company aims to make it easier for customers to access insurance products that are typically considered too risky for the standard market. Ledgebrook’s flagship product, a non-admitted general liability (GL) and supported excess product, provides clients with the ability to write tough risks where admitted carriers typically decline.

The insurtech industry has seen significant growth in the last few years, with companies focusing on providing new and innovative ways for customers to access and purchase insurance products. Ledgebrook’s focus on non-admitted insurance products is particularly noteworthy, as it opens up new markets for insurance companies and provides a much-needed solution for customers who have struggled to obtain coverage in the past.

Future Outlook

Moving forward, Ledgebrook plans to use its new funding to continue growing and expanding its offerings. Caligaris has stated that the company will focus on execution while launching additional lines of business. The unwavering support of trusted partners and the war chest in the company’s back pocket gives Ledgebrook the ability to remain focused on long-term goals.

Overall, Ledgebrook’s recent funding announcement is a positive sign for the insurtech industry and for those seeking non-admitted insurance products. With continued innovation and investment, insurtech companies like Ledgebrook can provide new and improved solutions for customers, making it easier and more accessible to obtain the coverage they need.

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