Federato, a San Francisco, CA-based provider of a RiskOps underwriting platform, raised $25M in Series B funding.
The round was led by Caffeinated Capital, with participation from Emergence Capital and Pear VC. Varun Gupta, Partner at Caffeinated Capital, joined Federato’s board.
The company intends to use the funds to accelerate its growth and development efforts to bring efficient underwriting and data-driven portfolio management to P&C and specialty insurance.
Federato provides a RiskOps that offers a real-time platform for both individual risk underwriting and portfolio optimization. The underlying federated data graph enables a view of client information and allows for AI to proactively recommend next best actions to users. The platform is being used today by a broad cross-section of the insurance industry from multi-billion-dollar insurance carriers to high growth MGAs.
Since the company’s Series A, the company has tripled its customer base, doubled spend within existing customers, and entered several new segments across both commercial and personal lines.
FinSMEs
28/06/2023