Kalepa raised US$75 million in Series B funding at a US$470 million valuation. The company provides Professional Grade AI tools for insurance. Updata Partners led the round, with IA Ventures and Inspired Capital participating.
Funding history
Kalepa's previous round was a US$14 million Series A in 2021. Inspired Capital led that round, and IA Ventures took part. The company has now raised US$91 million in total.
Customers and growth
Kalepa counts major insurers and MGAs such as W.R. Berkley, Bowhead Specialty, and AmRisc as customers. Revenue and customer count tripled over the past year. The company has remained cash flow positive for more than two years.
Platform results
Kalepa's AI performs and coordinates work across operations, underwriting, pricing, and portfolio management. Insurers using it reported 30% to 60% more premium per underwriter. Work volume on the platform grew 4x in the past year.
Kalepa plans to expand its AI product suite and enter new markets. The company also plans to double its headcount in 2027. Recent senior hires include a CTO from Affirm and a CRO from Addepar.