Ledgebrook, a US-based InsurTech firm specialising in excess and surplus (E&S) lines of insurance, has raised $65m in a Series C funding round.
The investment was led by The Stephens Group, with support from Duquesne, Brand Foundry, Floating Point, Hummingbird Nomads and American Family Ventures. The latest round brings the company’s total funding to more than $110m, according to InsurTech Insights.
The new funding will be used to fuel Ledgebrook’s continued expansion. Plans include hiring new talent, broadening its product portfolio, enhancing service for wholesale partners, and increasing its participation in risk retention with carrier collaborators.
The company believes this capital will help cement its status as a leading E&S platform by deepening its tech infrastructure and strengthening broker relationships through consistent execution and innovation.
Ledgebrook CEO Gage Caligaris said, “I’m really excited to deepen our collaboration with Stephens Group and the Stephens Family. Their fair, open, honest and long-term approach to business partnerships matches our own at Ledgebrook and has shone through since their initial investment last year. The round recognizes the momentum in our business. It positions Ledgebrook to truly establish itself as a premier E&S platform, known for consistent execution on our mission to delight wholesale brokers and for bringing together the best of insurance expertise and technology. I am proud of the backing we have from our existing and new investors and am incredibly grateful for their support.”
Stephens Group managing director Ryan Morrow added, “Ledgebrook is a unique and truly impressive, founder-led platform in the attractive E&S marketplace with fantastic early momentum. We look forward to a partnership with Gage and Ledgebrook for many years ahead. We and our co-investors could not be more excited to partner with the team as the business scales.”
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