StepStone Group Inc. led a $40 million Series C funding round for Federato, an AI-native underwriting platform designed for the insurance industry. This investment was part of a larger $80 million capital raise for Federato.
John Avirett, Partner at StepStone Group, highlighted Federato's rapid growth and the deep expertise of its founders in AI. He noted that Federato's technology provides a critical information advantage, enhancing investment decisions and client solutions.
The investment underscores StepStone's strategic interest in technology that drives efficiency and innovation in financial services. Federato's platform aims to make risk selection faster and more precise, improve team efficiency, and support profitable growth for insurers, which aligns with StepStone's data-driven approach in private markets.
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