Federato Raises $40 Million in Series C

Federato Raises $40 Million in Series C

Federato, a San Francisco, CA-based AI-native underwriting platform, has raised $40 million in a Series C funding round, bringing its total funding to $80 million.

The round was led by StepStone Group, with participation from Emergence Capital, Caffeinated Capital, and Pear VC.

StepStone Group Inc. is a global private markets investment firm managing $682 billion in total capital, including $176 billion in assets under management (as of September 30, 2024). It provides customized investment solutions, advisory services, and data insights. StepStone specializes in building tailored private market portfolios across private equity, infrastructure, private debt, and real estate.

The funding will support Federato’s expansion into the UK, Europe, LATAM, and APAC.

Founded in 2020 by Will Ross and William Ross, Federato provides an AI-native underwriting platform designed to transform how insurers manage risk and operate. Its flagship product, RiskOps, leverages artificial intelligence to enhance underwriting processes. Federato is on a mission to transform the $1 trillion+ property, casualty, and specialty insurance industry.

Funding Details

Company: Federato Technologies, Inc.

Raised: $40.0M

Round: Series C

Funding Date: November 2024

Lead Investor: StepStone Group Inc.

Additional Investors: Emergence Capital, Caffeinated Capital, Pear VC

Company Website: https://www.federato.ai/

Software Category: AI Underwriting Solutions