Comulate raises $20M Series B to expand AI-powered insurance automation
Comulate provides AI-powered accounting automation for insurance brokers, streamlining back-office operations to eliminate manual errors, reduce inefficiencies, and enhance financial workflows.
Company name: Comulate
Location: San Francisco, CA
Industry: Insurance
Funding details:
- Amount: $20M (Series B round)
- Investors:
- Lead: Bond, Workday Ventures
Purpose of investment:
- Expand operations and business reach
- Enhance AI-driven automation for insurance brokers
Leadership:
- CEO & Co-founder: Jordan Katz
Product:
Comulate provides AI-powered accounting automation for insurance brokers, streamlining back-office operations to eliminate manual errors, reduce inefficiencies, and enhance financial workflows.
Key features:
- AI-driven accounting automation: Reduces time spent on manual and error-prone accounting tasks.
- Optimized financial workflows: Automates processes across the insurance accounting lifecycle.
- Seamless integration: Supports large brokerage firms in modernizing their back-office operations.
Customers:
- IMA Financial
- The Baldwin Group
- Hilb Group
Growth metrics:
- Launched in 2022
- Tripled revenues in the past year
- Enabled customers to save significant time through automation
Future plans:
With this funding, Comulate will scale AI-driven accounting automation, expand adoption among insurance brokers, and drive operational efficiency across the industry.
