The investment event brings the insurtech’s total funding to date to $8.8 million. The capital will be used to scale their non-admitted General Liability & Supported Excess product and support the development of future offerings.
Ledgebrook, founded in 2022, is a technology-enabled Excess & Surplus (E&S) Managing General Agent (MGA) that aims to provide wholesale brokers with the fastest and easiest quoting experience.
The company’s CEO, Gage Caligaris, expressed excitement about the recent funding and welcomed Parker Beauchamp, managing partner at Markd, to Team Ledgebrook.
Ledgebrook will focus on its growth strategy
Beauchamp’s experience of having placed over $1 billion in premiums as the owner of a retail brokerage is seen as a valuable addition to Ledgebrook as it continues to grow. Caligaris also highlighted the strategic timing of the capital infusion, which will enable Ledgebrook to stay focused on executing its plans after recently launching its first product.
Beauchamp said: “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. 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.”
Caligaris added: “I’m absolutely thrilled to bring Parker aboard Team Ledgebrook. 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. 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.”
