Comulate

About Comulate

Comulate, operating under the legal name Ardent Labs, Inc., is a financial technology firm targeting the insurance sector with an AI-powered platform for accounting automation and revenue intelligence. Founded in 2022 by CEO Jordan Katz and CTO Michael Mattheakis, the San Francisco-based company aims to modernize back-office operations for large insurance brokers. The founders initially explored building a SaaS solution for other tech companies but pivoted after identifying significant inefficiencies and a lack of dedicated modern software in the insurance industry. Their background in product and engineering at companies like Asana, Brex, Plaid, and Applied Intuition informed their approach to solving these complex, real-world problems.

The company's platform is designed to automate and streamline critical, yet often manual, financial workflows for insurance agencies. Its core services include Direct Bill Automation, Carrier Payables Automation, and Revenue Intelligence. The technology processes carrier statements from various formats like PDFs and spreadsheets to automate reconciliation, identify missing commission payments, track variances, and improve forecasting accuracy. By integrating with major agency management systems (AMS), CRMs, and ERPs, Comulate posts reconciled transactions directly to a broker's general ledger and helps improve the quality of their data. The business model is centered on providing this technology as a subscription service (SaaS), with clients that include prominent firms like The Baldwin Group, IMA Financial, and Hilb Group.

Comulate has demonstrated substantial market traction, achieving eight-figure annual recurring revenue within three years of its founding. This rapid growth facilitated a significant milestone in February 2025, when the company secured $20 million in a Series B funding round. The round was co-led by BOND and Workday Ventures, with participation from existing investors such as Spark Capital. This capital is intended to scale operations, expand product development, and deepen integrations, particularly with Workday's platform, to better serve mutual customers. The company reports that its automation tools have saved clients hundreds of thousands of hours in manual work.