The Pulse

Insurance AI Company Kalepa Closes $75 Million Series B, Says Revenue Tripled

Kalepa raised $75 million in Series B funding at a $470 million valuation. The company says its revenue and customer count each tripled over the past year, and it plans to expand its AI product suite, move into new markets and double its he

AI.info Team · Written with AI · fact-checked · 2026-11-06

Kalepa announced a $75 million Series B on November 5, 2026, at a $470 million valuation. The company plans to use the funding to expand its AI product suite, move into new markets and double its team’s headcount in 2027. Over the past year, Kalepa says, its revenue and customer count each tripled. Kalepa has remained cash flow positive for more than two years, the company says. Kalepa lists W.R. Berkley, Bowhead Specialty and AmRisc among its customers.

Kalepa’s case for connected workflows

Kalepa describes insurers as facing rising losses, the retirement of experienced professionals and competition from AI-native entrants. Softening prices leave less room for error on each decision, the company says. Kalepa says much of the insurance AI conversation focuses on isolated administrative tasks, while insurers need AI that carries connected workflows through to completion.

The platform performs and orchestrates work across operations, underwriting, pricing and portfolio management. The platform’s insurance-specific AI harness coordinates the agents behind those workflows, adapts as conditions change and matches autonomy to each task and its risk. Teams step in where their expertise or approval is needed, and every result is verified so it can be traced and audited. This lets insurers rethink how work is split between AI and their people, take on more business and strengthen risk selection, the company says.

Gains reported by insurers using Kalepa

Insurers using Kalepa 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. The volume of work running through the platform grew 4x in the past year, Kalepa says.

“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.”

Paul Monasterio, co-founder and CEO of Kalepa

Senior hires and $91 million raised in total

Kalepa added several senior leaders over the past year. Garrett Schlesinger joined as chief technology officer after 12 years at Affirm, where he was the company’s 12th employee and helped build its real-time underwriting system. David Meister is chief revenue officer, Audrey Howell is head of product, and Tim Khoo-Jones is head of talent.

The Series B was led by Updata Partners, with participation from IA Ventures and Inspired Capital. Kalepa’s last round was a $14 million Series A led by Inspired Capital, with participation from IA Ventures, in 2021. The company has now raised $91 million in total.