Ledgebrook, an insurtech managing general agent (MGA) for wholesale brokers, has announced it has raised a $4.6m round of funding.
The Boston-based company intends to use these funds to scale its flagship non-admitted GL & Supported Excess product & support the development of future offerings. It is also looking to build out the team, technology, and operational infrastructure to launch additional LOB.
Led by Parker Beauchamp at Markd, with participation by Brand Foundry Ventures, alongside a handful of other angel investors, the round was structured as an uncapped SAFE.
“For many reasons, I love and have an immeasurable amount of confidence in Gage, and I want to help him in anyway that I can.” said Beauchamp, “E&S was the largest, most profitable, and most painful to place business in every agency/brokerage operation I have ever been involved in. I’m glad someone is capable and willing to go after it.”
“I’m absolutely thrilled to bring Parker aboard Team Ledgebrook,” said Founder & CEO Gage Caligaris, “his experience of having placed >$1B in premiums as the owner of a retail brokerage makes him uniquely qualified to offer insight and support to Ledgebrook as we grow.”
Caligaris added: “This opportunistic capital infusion couldn’t come at a better time. The unwavering support of trusted partners and a war chest in our back pocket allows Ledgebrook to stay laser-focused on execution in the wake of launching our first product.”