Kalepa has raised $75m in Series B funding at a $470m valuation, led by Updata Partners, according to a company announcement dated 5 November 2026. IA Ventures and Inspired Capital also participated in the round.
The insurance AI platform said the funding will expand its AI product suite, support entry into new markets, and double headcount in 2027. Kalepa performs and orchestrates insurance workflows across operations, underwriting, pricing, and portfolio management, and said its insurance-specific AI coordinates agents with human expertise or approval where needed.
"That means insurers can look at each task and ask who does it best, and at what cost. Sometimes that’s AI and sometimes it’s a person. When insurers get that division of labor right, their people’s attention can go to the complex risks, close calls, and broker relationships that need it. This funding lets us bring Professional Grade AI to more of the work insurers do, so they have that choice across the entire value chain," said Paul Monasterio, co-founder and CEO of Kalepa.
Kalepa said revenue and customer count tripled over the past year and that it has remained cash flow positive for more than two years. According to the company, the volume of work running through the platform grew fourfold in the past year. Customers named in the announcement include W.R. Berkley, Bowhead Specialty, and AmRisc.
Kalepa reports that insurers using its platform have reported 30% to 60% more premium per underwriter, a 58% reduction in quote time, a 960-basis-point improvement in combined ratio, and double the quote-to-bind rate. Those figures are company-reported customer outcomes and are not independently verified.
Founded in 2018, Kalepa is used in production by carriers, MGAs, reinsurers, and programme administrators, according to the company's Business Wire boilerplate. Its last round was a $14m Series A in 2021, led by Inspired Capital with IA Ventures participating. Total funding to date is $91m. The valuation basis and headquarters were not disclosed in the primary release.
