Ledgebrook, a Boston-based InsurTech MGA startup focussing on middle market E&S, has raised $4.6m in funding to scale its flagship products and support future offerings.
The round was led by Markd with participation from Brand Foundry Ventures and brings Ledgebrook’s total funds raised to $8.8m.
Founded in 2022, Ledgebrook is a tech-enabled E&S MGA looking to provide the fastest, easiest quoting experience to wholesale brokers while delivering best-in-class pricing and risk selection via their innovative next-gen tech stack.
Led by insurance industry veterans, Ledgebrook said it offers the best of both worlds: deep insurance expertise empowered by the best of modern technology.
Buoyed by the positive reception to the launch of its first product, Ledgebrook will look to move quickly in staffing up to accommodate demand and recruiting the next set of underwriting leaders to launch additional LOB on the back of the same core tech stack.
By leveraging a combination of both the best of modern technology and underwriting expertise, the InsurTech MGA aims to differentiate itself by offering the fastest, smoothest quoting experience to its wholesale broker partners.
Parker Beauchamp from Markd said, “For many reasons, I love and have an immeasurable amount of confidence in Gage, and I want to help him in anyway that I can. E&S was the largest, most profitable, and most painful to place business in every agency/brokerage operation I have ever been involved in. I’m glad someone is capable and willing to go after it.”
Gage Caligaris, founder & CEO, added, “I’m absolutely thrilled to bring Parker aboard Team Ledgebrook. His experience of having placed over $1bn in premiums as the owner of a retail brokerage makes him uniquely qualified to offer insight and support to Ledgebrook as we grow.”
Earlier this year, Everspan Group partnered with Ledgebrook on a programme offering general liability and supported excess liability to mid-market businesses.
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