# Kalepa raises $75 million Series B at $470 million valuation

Digest AI · Business & Funding · published 2026-11-05T13:00:00Z

Canonical: https://digestai.news/story/kalepa-raises-75-million-series-b-at-470-million-valuation

## Summary

Kalepa announced a $75 million Series B financing that values the insurance‑AI startup at $470 million and lifts its total funding to $91 million. The round was led by Updata Partners with participation from existing backers IA Ventures and Inspired Capital. Kalepa says the past year saw revenue and customer count triple while the volume of work processed through its platform grew fourfold, and it has remained cash‑flow positive for more than two years.

The company describes its offering as “Professional Grade AI” that automates and coordinates the entire underwriting workflow—from submission ingestion and document classification to risk analysis, pricing, quoting and binding. It uses an Ensemble Engine that blends probabilistic models with deterministic logic and layered controls, allowing insurers to keep human judgment where needed. Reported client outcomes include over 58 % higher premium per underwriter, quotes delivered 30‑60 % faster, a doubled quote‑to‑bind rate, and a 960‑basis‑point improvement in combined ratio. Kalepa also added senior hires such as CTO Garrett Schlesinger and CRO David Meister to expand its product suite and market reach.

## Key points

- Kalepa secured $75 million Series B, valuing it at $470 million, bringing total funding to $91 million.
- Company says revenue and customers tripled and platform work volume rose fourfold in the past year.
- Reported client gains include >58% higher premium per underwriter, 30‑60% faster quotes, doubled quote‑to‑bind rate, and 960‑basis‑point combined‑ratio improvement.

## Why it matters

The funding gives Kalepa resources to broaden AI-driven underwriting automation, a sector where faster, more accurate risk assessment can boost insurer profitability and reshape insurance workflows.

## Sources

1. [Kalepa Raises $75M Series B at $470M Valuation to Expand Insurance AI](https://unite.ai/kalepa-raises-75m-series-b-insurance-ai) (Unite.AI, 2026-11-05)

## Cite

Digest AI, "Kalepa raises $75 million Series B at $470 million valuation", 5 November 2026, https://digestai.news/story/kalepa-raises-75-million-series-b-at-470-million-valuation

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