Ledgebrook, an excess and surplus (E&S) insurtech startup, has raised $65 mn in a Series C funding round led by The Stephens Group.
Other participants include Duquesne, Brand Foundry, Floating Point, Hummingbird Nomads, and American Family Ventures. The latest round brings the company’s total funding to over $110 mn.
Boston-based insurtech Ledgebrook focuses on general liability and professional liability insurance, working with carrier partners to deliver solutions within the E&S insurance market.
The new capital will be used to support continued expansion, including talent acquisition, development of its service-focused model for wholesale brokers, product line growth, and increased risk retention participation alongside carrier partners.
Gage Caligaris, Founder and CEO of Ledgebrook, stated that the company is gaining momentum and welcomed the deepening relationship with The Stephens Group.
He noted that their shared values and long-term business approach have been evident since the firm’s initial investment in 2023.
The round recognizes the momentum in our business. It positions Ledgebrook to truly establish itself as a premier E&S platform, known for consistent execution on our mission to delight wholesale brokers and for bringing together the best of insurance expertise and technology.
Gage Caligaris, Founder and CEO of Ledgebrook
Caligaris emphasized that the funding positions Ledgebrook to establish itself as a top-tier E&S platform, combining insurance expertise with technology to meet the expectations of wholesale brokers.
Ryan Morrow, Managing Director at The Stephens Group, described Ledgebrook as a distinctive founder-led platform in the growing E&S market with strong early progress.
He expressed confidence in the company’s future and confirmed continued support from the investor group as Ledgebrook scales its operations.
We look forward to a partnership with Gage and Ledgebrook for many years ahead. We and our co-investors could not be more excited to partner with the team as the business scales.
Ryan Morrow, Managing Director at The Stephens Group
The company plans to use the funding to reinforce its market position through investment in technology, recruitment, and partnerships that enhance its ability to deliver high-quality E&S insurance products and services.
In 20225, Ledgebrook has secured of a $17 mn in Series B funding round. This opportunistic raise introduces two esteemed Family Offices to the Ledgebrook cap table: Duquesne (who led the round) and The Stephens Group and also included participation from long-term partners Brand Foundry Ventures & American Family Ventures.
The company will use the funds to expand current operations and launch new projects. The capital infusion will allow Ledgebrook to accelerate expansion of current operations & embark on innovative projects.
