Federato, an AI-driven insurance platform, has secured $100m in a Series D funding round.
The round was led by Growth Equity at Goldman Sachs Alternatives, with additional backing from existing investors Emergence Capital, Caffeinated Capital, StepStone Group and Pear VC.
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Less than 12 months ago, the company raised $40m via a Series C round.
Federato has reported a threefold increase in revenues over the past year due to new customer acquisition and expanded usage of its solution among existing clients.
According to the company, the growth has also been driven by the widespread adoption of agentic AI – a technological approach that Federato co-founders Will Ross and William Steenbergen have pioneered for more than a decade.
The company’s platform allows insurers to tailor their workflows and strategies as they adapt to changes brought about by AI integration.
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By GlobalDataFederato stated that its agentic AI systems conduct complex analysis while enabling human personnel to concentrate on decision-making areas that require nuanced judgement and interpersonal skills.
Following this funding round, Federato’s total capital raised to date exceeds $180m.
Federato CEO Will Ross commented: “Executives use AI every day and have an intuitive understanding of what it should deliver – but they aren’t getting that from AI bolted on to legacy solutions.
“The rising demand for true AI-native capability has surprised even us, and this substantial new investment from Goldman Sachs will help us deliver what customers need.”
Goldman Sachs Alternatives Growth Equity managing director Jade Mandel said: “Our diligence in P&C [property and casualty] insurance revealed that Federato’s AI-native platform delivers a step change in ROI [return on investment] and efficiency compared to prior generations of core systems.
“Federato has built the full policy life cycle solution the market has been waiting for, and we are excited to invest in a company whose domain and AI expertise are already delivering measurable results for insurers.”
