AI-driven insurance platform Federato raises $100m in Series D funding

Federato, an AI-driven security platform, has secured $100m successful a Series D backing round.

The circular was led by Growth Equity astatine Goldman Sachs Alternatives, with further backing from existing investors Emergence Capital, Caffeinated Capital, StepStone Group and Pear VC.

Less than 12 months ago, the institution raised $40m via a Series C round.

Federato has reported a threefold summation successful revenues implicit the past twelvemonth owed to caller lawsuit acquisition and expanded usage of its solution among existing clients.

According to the company, the maturation has besides been driven by the wide adoption of agentic AI – a technological attack that Federato co-founders Will Ross and William Steenbergen person pioneered for much than a decade.

The company’s level allows insurers to tailor their workflows and strategies arsenic they accommodate to changes brought astir by AI integration.

Federato stated that its agentic AI systems behaviour analyzable investigation portion enabling quality unit to ore connected decision-making areas that necessitate nuanced judgement and interpersonal skills.

Following this backing round, Federato’s full superior raised to day exceeds $180m.

Federato CEO Will Ross commented: “Executives usage AI each time and person an intuitive knowing of what it should present – but they aren’t getting that from AI bolted connected to bequest solutions.

“The rising request for existent AI-native capableness has amazed adjacent us, and this important caller concern from Goldman Sachs volition assistance america present what customers need.”

Goldman Sachs Alternatives Growth Equity managing manager Jade Mandel said: “Our diligence successful P&C [property and casualty] security revealed that Federato’s AI-native level delivers a measurement alteration successful ROI [return connected investment] and ratio compared to anterior generations of halfway systems.

“Federato has built the afloat argumentation beingness rhythm solution the marketplace has been waiting for, and we are excited to put successful a institution whose domain and AI expertise are already delivering measurable results for insurers.”

"AI-driven security level Federato raises $100m successful Series D backing " was primitively created and published by Life Insurance International, a GlobalData owned brand.

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