Ledgebrook, a Boston, MA-based insurtech startup, raised $4.2M in seed funding.
The round was led by Brand Foundry Ventures with participation from American Family Ventures and 15 angel investors.
The company intends to use the funds to build out the team, technology, and operational infrastructure to launch its first product.
Led by Gage Caligaris, Founder and CEO, Ledgebrook is a tech-enabled E&S MGA looking to provide fast and easy quoting experience to wholesale brokers while delivering pricing and risk selection via their innovative next-gen tech stack. The company aims to build out its operations with the goal of writing its first policies in Q4 2022. Ledgebrook plans to start by launching a broad-appetite E&S GL product (with supported excess) to establish its value prop to wholesale brokers ahead of expanding via multiple additional product launches in 2023.
Team Ledgebrook is composed of Steve Mills, former President of The Hanover’s E&S division and 30-year insurance industry veteran, who leads the underwriting team, and COO Paul Velekei, who stands up operations leveraging decades of experience building and scaling finance companies.
FinSMEs
17/08/2022