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Capitola, the digital marketplace for commercial insurance that connects brokers and carriers and uses AI-based risk appetite matching to streamline the placement process, today announced it has raised $15.6 million in its Series A funding round. Led by Munich Re Ventures, this round will be used to grow Capitola’s platform with an emphasis on its market intelligence capabilities and to accelerate sales in the U.S. This round adds to a $5M Series Seed round raised in 2021 that was led by Lightspeed Venture Partners, who also participated in this round.“The insurance industry has seen many technological advancements over the years, but very little attention has been given to the insurance professionals and the tools they use,” said Sivan Iram, Capitola’s co-founder and CEO.
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