Kalepa Raises $75 Million Series B at a Reported $470 Million Valuation
Updata Partners led the round for the insurance-underwriting AI company, bringing Kalepa’s reported total funding to $91 million.
NEW YORK — Kalepa announced a $75 million Series B on Nov. 5, 2026, led by Updata Partners, with participation from existing investors IA Ventures and Inspired Capital. The round reportedly values the company at $470 million and brings total funding to $91 million.
Kalepa provides AI software for insurance underwriting operations. Its platform is designed to help insurers evaluate submissions, organize risk information and support underwriters with workflow and decision tools.
Insurance underwriting is a consequential domain for automation: model outputs can affect pricing, coverage and who receives an offer. A useful system therefore needs traceable data, human review, controls for bias and a clear way to correct errors rather than treating an AI recommendation as an unreviewable decision.
The valuation and funding total are private-market figures reported in connection with the round, not independent measures of revenue or profitability. Kalepa has more capital to expand its product, while insurers will judge the platform on accuracy, integration and whether it improves underwriting without weakening governance.