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Based in San Francisco, California, Federato develops an AI-native software-as-a-service platform that manages the full policy lifecycle and provides real-time underwriting insights for commercial insurance carriers. The company's core technology modernizes traditional insurance workflows by integrating intelligent decision-making tools and automation directly into processes spanning initial submissions, risk analysis, rating, pricing, and policy renewals. Designed as an integrated architecture rather than a supplementary application, the software provides underwriters with traceable data to align daily risk decisions with broader corporate portfolio strategies. Operating currently as a Series B venture-backed enterprise, the firm has secured capital from institutional investors including early pre-seed backing from Pear VC. Federato initially gained operational traction by winning a Stanford Graduate School of Business competition and subsequently participating in the PearX accelerator program. The enterprise software company was founded by Will Ross and William Steenbergen.
Federato has raised $180.0M across 4 funding rounds.
Federato has raised $180.0M in total across 4 funding rounds.
Federato has raised $180.0M in total across 4 funding rounds.
Federato's investors include Jade Mandel, Caffeinated Capital, Emergence Capital, Pear VC, StepStone Group, John Avirett, Atria Ventures, F-Prime Capital Partners, John Raguin, Niranjan Sabharwal, Donald Stalter.
Federato is an AI-native software company that builds an underwriting platform for the insurance industry, automating submission triage, decision support, and data orchestration to streamline workflows.[1][2][3] It serves insurance carriers, managing general agents (MGAs), and mutual insurance companies by solving inefficiencies in risk assessment, quoting, and portfolio management—enabling underwriters to focus on high-value deals while reducing reliance on spreadsheets and multiple systems.[2][3] Founded in 2020 and based in Palo Alto, California, Federato has raised $82.4M in funding, reaching Series C stage with its latest $40M round six months ago, signaling strong growth momentum amid rising AI adoption in insurtech.[2]
The platform unifies internal guidelines, external data, and rating tools into a single interface, reportedly cutting system reliance by 87% and accelerating decisions for profitable growth.[3]
Federato was co-founded in 2020 by Will Ross (CEO) and William Steenbergen (CTO) in California, drawing on their expertise to address fragmented underwriting processes in insurance.[1] The idea emerged from recognizing the need for AI to handle repetitive tasks like submission evaluation, allowing humans to prioritize portfolio strategy and relationships—a vision echoed by team leaders like Dominic Grimaldi.[5] Early traction built on assembling a leadership team with deep insurance and SaaS experience across the policy lifecycle, evolving from a specialized triage tool into a full AI-native platform for the entire underwriting workflow.[4][3]
Pivotal moments include rapid funding progression to Series C and platform expansions integrating third-party data via a federated graph, proving demand for operational transformation in a data-siloed industry.[2][3]
Federato stands out in insurtech through its AI-native, end-to-end underwriting platform that embeds intelligence directly rather than bolting on features. Key strengths include:
Unlike competitors like Cytora, which focus on risk digitization, Federato emphasizes full-lifecycle unification and "AI disruption where needed, stability elsewhere."[2][3]
Federato rides the AI-insurtech wave, capitalizing on generative AI and data unification to modernize a $1.5T+ industry plagued by manual processes and legacy systems.[3][4] Timing is ideal post-2020, as carriers face pressure for profitable growth amid climate risks, cyber threats, and rising claims—AI triage aligns perfectly with these market forces by enabling data-driven outselection of risks.[2][3] It influences the ecosystem by setting a standard for "built-in" AI platforms, reducing vendor sprawl for MGAs and carriers while fostering first-principles innovation that could accelerate sector-wide adoption of federated data graphs.[4]
Federato is poised for expansion as AI maturity deepens in insurance, potentially dominating underwriting automation with Series C fuel for global scaling and deeper integrations.[2] Trends like real-time analytics and regulatory pushes for transparency will amplify its edge, evolving it from triage specialist to lifecycle orchestrator—watch for partnerships with reinsurers and AI model advancements. This positions Federato to redefine "winning" in insurance, turning fragmented workflows into a science of profitable growth, much like its platform does for clients today.[3][5]
Federato has raised $180.0M across 4 funding rounds. Most recently, it raised $100.0M Series D in November 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Nov 18, 2025 | $100M Series D | Jade Mandel | Caffeinated Capital, Emergence Capital, Pear VC, Stepstone Group | Announced |
| Nov 1, 2024 | $40M Series C | John Avirett | Atria Ventures, Caffeinated Capital, Emergence Capital, Pear VC | Announced |
| Jun 1, 2023 | $25M Series B | Caffeinated Capital | Atria Ventures, Emergence Capital, Pear VC | Announced |
| Sep 1, 2022 | $15M Series A | Emergence Capital | Caffeinated Capital, F Prime Capital, John Raguin, Niranjan Sabharwal, Donald Stalter, Pear VC | Announced |
