US-based InsurTech managing general agent, Ledgebrook, has secured $17m in a Series B funding round.
The round was led by Duquesne Family Office, with participation from The Stephens Group, and continued support from long-time partners Brand Foundry Ventures and American Family Ventures, according to Life Insurance International.
Founded in 2022, Ledgebrook focuses on providing technology-driven solutions for the insurance industry, particularly in the Excess and Surplus (E&S) market.
The company aims to streamline the placement of complex risks, offering brokers enhanced tools to manage challenging policies.
Ledgebrook plans to use the new capital to accelerate the expansion of its current business and explore new growth opportunities.
This includes expanding its product offerings and further developing its platform to serve the insurance sector more effectively.
The funding round also coincides with the appointment of Anthony Segal-Knowles as chief financial officer. Segal-Knowles brings considerable expertise from his previous roles at Lazard, the British Treasury, and the International Monetary Fund, where he specialised in financial and strategic planning.
Ledgebrook CEO Gage Caligaris expressed enthusiasm about the new partnerships, stating, “We are thrilled to welcome Duquesne Family Office and the Stephens Group into the Ledgebrook family. Their commitment to long-term thinking aligns well with our vision for what Ledgebrook can be in the coming decades. It is a rare opportunity to be able to bring on partners of this calibre and I could not be more excited.”
The Stephens Group managing director, Ryan Morrow, also praised Ledgebrook’s potential, noting, “We have been fortunate to get to know Gage over the last year, and it is clear he has the chance to build the next great insurance platform. The E&S market and its brokers are long overdue for better technology to place their most difficult risks, and Ledgebrook is building that exact platform.”
Ledgebrook’s latest Series B round follows a $24m Series A, announced in March 2024, which was led by American Family Ventures, with participation from Brand Foundry Ventures and Floating Point.
In June, Ledgebrook also expanded its professional lines offerings with the introduction of a new architects and engineers (A&E) insurance product, launched in partnership with Obsidian Insurance.
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