Federato Raises $100 Million in Series D
Federato, a San Francisco, CA–based AI-native insurance platform, has raised $100 million in Series D funding, bringing its total funding to over $180 million.
The round was led by Growth Equity at Goldman Sachs Alternatives, with participation from returning investors Emergence Capital, Caffeinated Capital, StepStone Group, and Pear VC.
Goldman Sachs Alternatives is a global investor in alternative assets, managing over $500 billion in assets. The firm invests across private equity, private credit, real estate, infrastructure, sustainability, and hedge funds. Since 2003, Growth Equity at Goldman Sachs Alternatives has invested more than $13 billion in growth-stage and technology-driven businesses across multiple industries. As of September 30, 2025, Goldman Sachs had approximately $3.5 trillion in assets under supervision globally.
The company will use the funding to support continued product innovation, expand AI-native insurance solutions, and drive global market growth.
Founded in 2020 by Will Ross and William Steenbergen, Federato is an AI-native platform that spans the full policy lifecycle, changing the way insurance work gets done. Its agentic AI conducts complex analyses with depth and rigor, freeing up insurers’ human capital to focus on nuanced decisions and relationships. Headquartered in San Francisco, California, Federato is on a mission to transform the $1T+ property & casualty and specialty insurance industry.
Funding Details
Company: Federato
Raised: $100.0M
Round: Series D
Funding Date: November 2025
Lead Investor: Growth Equity at Goldman Sachs Alternatives
Additional Investors: Emergence Capital, Caffeinated Capital, StepStone Group, Pear VC
Company Website: https://www.federato.com/
Software Category: Insurance / AI Workflow