Kalepa, a NYC-based commercial insurance platform provider, raised $14M in Series A funding.
The round was led by Inspired Capital, with participation from previous investor IA Ventures, as well as Gokul Rajaram of Doordash, Coinbase, and formerly of Google, Jackie Reses, formerly of Square, and Henry Ward of Carta.
The company intends to use the funds to grow the team four-fold over the next year, with an emphasis on engineering, data science, and insurance talent.
Founded by Paul Monasterio, an MIT-trained PhD in Computational Physics and Nuclear Science, and Daniel Hillman, a UPenn-educated Systems Science Engineer and former intelligence lead in the Israel Defense Forces, Kalepa is a software company delivering Efficient Frontier commercial insurance. By analyzing billions of points of structured and unstructured data, its Copilot platform enables commercial insurers to understand the exposures and controls in small and medium businesses, leading to more accurate coverage and pricing and, consequently, large improvements to profitability and growth. The company also offers a Copilot-powered MGA, further enabling insurance carriers, brokers, and businesses to access Efficient Frontier commercial insurance at scale.
Kalepa has also appointed veteran insurance leader Mario Vitale, who formerly held CEO positions at Aspen Insurance, Zurich Insurance Global Corporate, and Willis North America to its Board of Directors
FinSMEs
08/09/2021