HomeUSAFederato Raises $40M in Series C Funding

Federato Raises $40M in Series C Funding

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Federato

Federato, a San Francisco, CA-based provider of an AI-native underwriting platform for insurance, raised $40M in Series C funding.

The round, which brought total funding to $80M, was led by StepStone Group (NASDAQ: STEP), with participation from existing investors, including Emergence Capital, Caffeinated Capital and Pear VC.

The company intends to use the funds to expand operations and its development efforts, as well as to drive continued global presence in the UK, Europe, LATAM, and APAC markets.

Led by CEO Will Ross, Federato provides an underwriting platform for insurers to win deals faster. From the moment a submission hits an underwriter’s email or portal, the company’s RiskOps approach puts AI to work, triaging submissions with a focus on business, delivering real-time feedback on the portfolio, and consolidating workflows into a single proven system. Its AI-native RiskOps approach has been particularly impactful in helping insurers confront difficult markets like aviation, commercial trucking, political violence, wildfire, and hurricane while delivering strong baseline efficiencies to more traditional markets.

Federato already serves thousands of underwriters.

FinSMEs

20/11/2024

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