Ledger Investing Raises $75M in Series B Funding to Democratize Insurance Venture Capital
Additional Capital Will Fund Expansion of Ledger Investing’s ILS Marketplace, Data Infrastructure Services Products and Asset Management Offerings
NEW YORK, NY (JUNE 22, 2022) – Ledger Investing, an InsurTech startup, today announced that it has raised $75 million in Series B funding led by WestCap, with participation from Teachers’ Venture Growth and Intact Ventures, and former investors SignalFire , MassMutual Ventures, Allegis Capital and Accel. Ledger Investing will use the funds to accelerate revenue growth in its brokerage and insurance-linked security asset management (ILS) businesses, launch data infrastructure services products and hire more than 200 employees.
Ledger Investing is a marketplace linking insurance risk to capital. She successfully extended ILS to the US P&C market by delivering unprecedented data transparency, simplified reinsurance structures and uncorrelated returns for institutional investors. Ledger Investing has placed over $400 million in capital markets premiums and is on track to top $1 billion by the end of the year. Managing General Agents (MGAs) and insurance companies have leveraged the market for multi-year underwriting capacity and access to alternative capital, unlocking additional value. Ledger Investing has provided institutional investors with attractive and diversified risk-adjusted returns through its ILS fund, Nanorock, and direct investments in traded securitizations.
As Ledger grows, the market will serve virtually all types of risk and insurance capital, encompassing traditional reinsurers, institutional investors, wealth managers and accredited retail investors. Ledger Investing’s unified data pipeline, Ledger Connect, will power the market with real-time actionable insights and rich analytics for risk originators as well as investors, setting the new market standard.
“We are well on our way to creating a trillion dollar asset class and changing the fundamentals of how insurance risk is linked to capital since the dawn of the (re)insurance industry” , said Samir Shah, CEO of Ledger Investing. “We have built a sophisticated risk and capital infrastructure to address the industry’s structural failure to provide relevant and reliable information to capital providers. Our technology benefits all stakeholders by bringing greater efficiency and transparency to every transaction.
The company addresses the biggest challenges that have historically impeded innovation in the insurance and capital markets:
- Institutional investors have long been attracted to property and casualty insurance, but have been handicapped by the opacity of risk, the unreliable nature of data and convoluted transaction structures.
- Insurance capital is ineffective. All other financial sectors have successfully used securitization to access large pools of capital and eliminate unnecessary friction costs, turning consumer credit, mortgages, real estate and other cash flows into class d investable assets. Insurance comes next.
- Insurance data is analog, disparate, fragmented and tailored. The industry is hungry for smooth, standardized, real-time data and integrations. “Ledger Investing brings essential transparency and automation to risk transfer,” said Jeff Mullen, partner at WestCap, who will join Ledger Investing’s board of directors. “With its industry-first open data platform, powerful analytics, and objective pricing models, Ledger is uniquely positioned to drive transformational change by creating new capital opportunities for MGAs and insurers, as well as a whole new asset class for many investors.” This pivotal Series B funding round will fuel the company’s exponential growth and support its mission to transform the funding structure of the entire insurance industry. The company is actively seeking innovative software engineers, data scientists and sales professionals to join the team.
Learn more about www.ledgerinvesting.com/careers.
About Investing in the Ledger
Ledger Investing, Inc. is an insurance technology startup funded by venture capitalists and strategic investors in the insurance industry. Ledger ILS Managers, LLC, is a wholly owned subsidiary of Ledger Investing, Inc. and an SEC-registered investment adviser. Ledger Capital Markets, LLC is a wholly owned subsidiary of Ledger Investing, Inc. and an SEC registered broker/dealer and a member of FINRA and SIPC. follow us on https://www.ledgerinvesting.com/.
WestCap is a strategic investor and growth capital operator that partners with visionary leaders to build generational businesses. The WestCap team is made up of seasoned entrepreneurs and business builders who work side-by-side with founders to help businesses grow. With $8 billion in assets under management and committed capital, WestCap has made notable investments like Airbnb, StubHub, Ipreo, Addepar, Hopper, iCapital, SIMON, GoodLeap and NYDIG. The company has offices in New York, San Francisco and London. For more information, visit www.WestCap.com.
About Teachers’ Venture Growth
Teachers’ Venture Growth (TVG) focuses on late-stage growth and venture capital investments in cutting-edge technology companies around the world through our direct presence in San Francisco, Toronto, London and Hong Kong. TVG is part of the Ontario Teachers’ Pension Plan Board. For more information, visit otpp.com/teachersventuregrowth and follow us on LinkedIn.