Ledgebrook, a Boston, MA-based insurtech startup, raised $4.2M in seed funding.
The spherical was led by Model Foundry Ventures with participation from American Household Ventures and 15 angel buyers.
The corporate intends to make use of the funds to construct out the staff, know-how, and operational infrastructure to launch its first product.
Led by Gage Caligaris, Founder and CEO, Ledgebrook is a tech-enabled E&S MGA trying to present quick and simple quoting expertise to wholesale brokers whereas delivering pricing and threat choice by way of their modern next-gen tech stack. The corporate goals to construct out its operations with the purpose of writing its first insurance policies in This fall 2022. Ledgebrook plans to begin by launching a broad-appetite E&S GL product (with supported extra) to ascertain its worth prop to wholesale brokers forward of increasing by way of a number of further product launches in 2023.
Staff Ledgebrook consists of Steve Mills, former President of The Hanover’s E&S division and 30-year insurance coverage business veteran, who leads the underwriting staff, and COO Paul Velekei, who stands up operations leveraging a long time of expertise constructing and scaling finance corporations.