Ledgebrook Secures $65 Million in Series C Funding for Growth
Ledgebrook Completes $65 Million Series C Funding Round
Ledgebrook Inc, a prominent player in the Excess and Surplus Lines Insurtech space, has announced the closure of a highly oversubscribed Series C funding round, amounting to $65 million. This impressive funding effort was led by the reputable existing investor, The Stephens Group, LLC, a private investment firm known for its strategic partnerships and significant contributions to business growth.
Investment Highlights and Strategic Partnerships
In addition to The Stephens Group, several other existing investors are participating in this round, including Duquesne, Brand Foundry, Floating Point, and American Family Ventures. New investments are also coming from notable firms such as Hummingbird Nomads, significantly adding to the excitement surrounding this funding round.
CEO's Perspective on the Funding
Gage Caligaris, the Founder and CEO of Ledgebrook, expressed his enthusiasm for deepening the collaborative efforts with Stephens Group. He highlighted the shared values of fairness, transparency, and commitment to long-term success, which have been evident since the Group's initial investment in the company. The funds secured will not only facilitate Ledgebrook's growth but will also enhance its mission of providing outstanding services to wholesale brokers.
Future Goals and Expansion Plans
The substantial investment will empower Ledgebrook to enhance its client-service approach, which is critical for accurate and timely service delivery in the complex world of insurance. The company plans to introduce innovative insurance products through its platform, positioning itself as a competitive force in the insurance market while also retaining risk on the insurance policies it underwrites.
Strengthening Leadership and Corporate Governance
Ledgebrook's management and employees maintain their status as the principal shareholders in the company, assuring that established leadership will continue to drive the vision and strategic direction. Ryan Morrow, a Managing Director at The Stephens Group, is set to join Ledgebrook's Board of Directors, bringing in valuable insights and experience to further strengthen the company’s governance.
The Unique Proposition of Ledgebrook
Ledgebrook is recognized in the industry as a unique and founder-led insurtech platform with a strong presence in the Excess and Surplus marketplace. Ryan Morrow asserted the company's exciting early momentum, indicating a promising future as Ledgebrook continues to scale its operations and enhance its offerings.
About Ledgebrook and The Stephens Group
Ledgebrook is committed to revolutionizing how insurance is approached through advanced technology and exceptional service. Interested parties can find out more about career opportunities by visiting the official website.
The Stephens Group, LLC, known for partnering with proficient management teams, operates with a solid focus on long-term value creation. With over $2 billion in private equity assets and an extensive history of investment across various sectors, they are well-equipped to support businesses like Ledgebrook in achieving their strategic goals and growth.
Frequently Asked Questions
1. What is Ledgebrook's recent funding achievement?
Ledgebrook has successfully closed a $65 million Series C funding round, which was oversubscribed.
2. Who led the Series C funding round?
The Series C funding round was led by The Stephens Group, LLC, alongside several existing and new investors.
3. How will Ledgebrook use the new funding?
The funding will enhance Ledgebrook's client-service approach, introduce new insurance products, and strengthen risk retention strategies.
4. Who will join Ledgebrook's Board of Directors?
Ryan Morrow from The Stephens Group will join Ledgebrook’s Board of Directors to offer strategic guidance.
5. What are the core values driving Ledgebrook and its partnerships?
Ledgebrook focuses on fairness, transparency, and fostering long-term business relationships, as emphasized by its collaboration with The Stephens Group.
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