Insurtech Ledgebrook raises $4.6M SAFE to scale flagship GL & Supported XS offering and develop additional products

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Apr 25, 2023, 10:37 ET

Ledgebrook, an insurtech MGA startup focusing on middle market E&S, has closed a $4.6M funding round led by Markd with participation by Brand Foundry Ventures

BOSTON, April 25, 2023 /PRNewswire/ -- Ledgebrook, a Boston-based insurtech founded in March 2022, has announced that it raised a $4.6M round of funding to scale its flagship non-admitted GL & Supported Excess product & support the development of future offerings.

By leveraging a combination of both the best of modern technology and underwriting expertise, Ledgebrook aims to differentiate itself by offering the fastest, smoothest quoting experience to its wholesale broker partners.

Buoyed by the positive reception to the launch of its first product, Ledgebrook will look to move quickly in staffing up to accommodate demand and recruiting the next set of underwriting leaders to launch additional LOB on the back of the same core tech stack.

Led by Parker Beauchamp at Markd, the round is structured as an uncapped SAFE and brings Ledgebrook's total funds raised to $8.8M.

"For many reasons, I love and have an immeasurable amount of confidence in Gage, and I want to help him in anyway that I can." said Beauchamp, "E&S was the largest, most profitable, and most painful to place business in every agency/brokerage operation I have ever been involved in. I'm glad someone is capable and willing to go after it."

"I'm absolutely thrilled to bring Parker aboard Team Ledgebrook," said Founder & CEO Gage Caligaris, "his experience of having placed >$1B in premiums as the owner of a retail brokerage makes him uniquely qualified to offer insight and support to Ledgebrook as we grow."

Ledgebrook's Seed round was led by Brand Foundry Ventures who, alongside a handful of other angels, added to their investment by participating in the SAFE.

"This opportunistic capital infusion couldn't come at a better time," said Caligaris "The unwavering support of trusted partners and a war chest in our back pocket allows Ledgebrook to stay laser-focused on execution in the wake of launching our first product."

About Ledgebrook

Ledgebrook is a tech-enabled E&S MGA looking to provide the fastest, easiest quoting experience to wholesale brokers while delivering best-in-class pricing and risk selection via their innovative next-gen tech stack. Led by insurance industry veterans, Ledgebrook offers the best of both worlds: deep insurance expertise empowered by the best of modern technology. Visit us at ledgebrook.com

About Markd

Markd is a venture capital company focused on funding and partnering with transformative insurtechs. It pays homage to the insurance industry's legacy while helping design its future. Markd's mission is to power substantial work and continually inspire more ideas to prevent hurt and loss.

SOURCE Ledgebrook