Kalepa announced a $75 million Series B on November 5 at a $470 million valuation. Updata Partners led the round, with participation from IA Ventures and Inspired Capital, bringing the insurance AI company’s reported total funding to $91 million.
The company plans to use the capital to expand its AI products, enter additional markets and double its headcount in 2027. Its platform coordinates work across insurance operations, underwriting, pricing and portfolio management, with people reviewing tasks where judgment or approval is required.
Kalepa says revenue and customer count tripled over the past year and that it has remained cash-flow positive for more than two years. These are issuer-reported operating claims. The funding announcement does not provide audited financial statements or an independent evaluation of its customers’ performance improvements.
The round adds capital for a specialist approach to enterprise AI: software designed around insurance workflows rather than a general assistant. Whether the expansion delivers better risk selection or faster work at a sustainable cost will require evidence beyond the company’s launch metrics.