Kalepa, which provides AI-powered decision support for commercial Insurance underwriters, has reportedly raised $14m in its Series A round.
The round was led by Inspired Capital, with contributions also coming existing Kalepa backer IA Ventures, according to a report from TechCrunch. Several angel investors also joined the round.
Founded in 2018 by Paul Monasterio and Daniel Hillman, Kalepa helps underwrites improve their decision-making capabilities. The AI technology enables the underwriter to prioritise the best opportunities, improve their risk decisions, accelerate ramp-ups and bolster agent relationships.
Kalepa co-founder and CEO, Paul Monasterio told TechCrunch, “InsurTech has seen a massive evolution over the past decade, but commercial insurance – which supports hard-working business owners and protects their most important assets – has been left behind. We leverage billions of data points and unlock crucial insights in order to bring businesses and insurers a single version of the truth.”
Earlier in the year, Inspired Capital joined the $56m Series B funding round of financial infrastructure platform Orum. The FinTech company leverages machine learning technology to help organisations move money with less risk.
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