Kalepa raises $75M Series B to automate insurance underwriting
What's the deal? Kalepa, a New York-based insurance software startup, has raised $75 million in a Series B round at a $470 million valuation. Updata PartnersDealroom has a profile for this one. Try Dealroom → led, with participation from IA Ventures and Inspired CapitalDealroom has a profile for this one. Try Dealroom →. The round brings total funding to $91 million.
What does Kalepa do? It builds AI software for insurance operations, underwriting, pricing, and portfolio management. Customers include W.R. Berkley, Bowhead Specialty, and AmRiscDealroom has a profile for this one. Try Dealroom →.
What's the money for? Kalepa plans to expand its AI products, enter new markets, and double its headcount in 2027, with most hiring in engineering, AI, and commercial roles. The company says its platform's workload grew fourfold over the past year.
How big is this round? The $75 million raise sits in roughly the 95th percentile for all-time US Series B rounds in big data, based on a sample of 1,173 deals. That marks a sharp step up from the $14 million Series A Kalepa raised in 2021.
Why now? AI-focused companies accounted for 95% of insurtech funding in the first quarter of 2026. Peers including Federato and FurtherAI have also raised substantial rounds for underwriting and workflow automation.
The signal: Insurers are backing tools aimed at easing labour-intensive underwriting, and Kalepa's raise shows capital flowing to the category. Still, its reported efficiency gains are company-reported and do not by themselves establish adoption or financial impact at scale.
Read more: dailyaibrief.com
Image credit: Kalepa
