Kalepa

An underwriter at a commercial insurer may open a submission that arrives as a stack of ACORD forms, statements of values, loss runs and supplemental applications, and then spend hours before a single quote exists. Kalepa, founded in 2018 by technology veterans, builds software to do that first pass automatically. It calls its approach Professional Grade AI and says it was designed from the start for insurance rather than adapted from another field.

Seven steps from intake to the book of business

The platform page lays out a sequence. Submission Ingestion classifies documents and extracts data from hundreds of document types. Clearance checks for conflicts and completeness, runs sanctions screening and confirms appointed producers. Triage ranks submissions by likelihood to bind and fit with appetite. Risk Analysis puts exposures, controls, terms and communications in one view, flagging items such as a nearby fire hydrant or a share of a schedule that is not sprinklered. Rating takes in pricing models from Excel, outside raters or internal systems, Quote and Bind produces decision-ready documents, and Portfolio Management ties account decisions to live portfolio targets and guardrails.

An ensemble engine and results the company reports

Kalepa says its AI Ensemble Engine picks the right model or method for each task and knows when to automate and when to leave judgment to the underwriter. On its home page it reports a 960 basis point improvement in combined ratio, more than 30 percent more premium per underwriter and a 58 percent cut in quote time, figures it attributes to insurers using the platform. The company sells to carriers, MGAs, mutuals and brokers, and its pages are organized by role for chief underwriting officers, chief operating officers and IT or AI leaders.

A $75 million Series B led by Updata Partners

In a release dated 5 November 2026, Kalepa said it raised $75 million in a Series B at a $470 million valuation, led by Updata Partners with IA Ventures and Inspired Capital taking part. It says it has raised $91 million in total, including a $14 million Series A in 2021, that revenue and customer count tripled over the past year, and that it has been cash flow positive for more than two years. The money is meant for the product suite, new markets and doubling headcount in 2027. Named customers include W.R. Berkley, Bowhead Specialty and AmRisc.

Key facts

Founded: 2018 Headquarters: 920 Broadway, Floor 15, New York, NY 10010, United States (address given in its privacy policy) People: Paul Monasterio (co-founder and CEO); Garrett Schlesinger (chief technology officer); David Meister (chief revenue officer) Customers: W.R. Berkley, Bowhead Specialty and AmRisc (company statement) Products or Services: Submission Ingestion, Clearance, Triage, Risk Analysis, Rating, Quote and Bind, Portfolio Management Funding: $75 million Series B announced 5 November 2026, led by Updata Partners; $91 million raised in total (company statement) Website: kalepa.com