Comulate, a San Francisco, CA-based technology company utilizing AI to transform the insurance industry with AI, has raised $20 million in Series B funding.
Investors
The round was led by BOND and Workday Ventures, with participation from existing investors, including Neo, Spark Capital, Jonathan Crystal, Plaid’s Zach Perret, and Applied Intuition’s Qasar Younis.
BOND is a global technology investment firm that supports visionary founders throughout their entire lifecycle of innovation and growth. Based in San Francisco, CA, the firm invests in companies across industries such as fintech, enterprise software, and AI.
Workday Ventures is the $250M strategic investment arm of Workday, focused on identifying, investing in, and partnering with early- to growth-stage companies developing emerging technologies for the enterprise. The firm invests in early- to late-stage SaaS, software, and AI companies.
Comulate Use of Funds
The company will use the funding to scale operations and expand integrations.
About Comulate
Founded in 2022 by Jordan Katz and Michael Mattheakis, Comulate is an AI-powered accounting automation and revenue intelligence platform designed specifically for large insurance brokers and agencies. The platform offers end-to-end automation across several key areas: direct bill processing, carrier payables, and revenue tracking. Comulate serves several insurance firms, including IMA Financial, The Baldwin Group, Risk Strategies, and The Hilb Group.
Funding Details
Company: Ardent Labs, Inc.
Raised: $20.0M
Round: Series B
Funding Date: February 2025
Lead Investors: BOND, Workday Ventures
Additional Investors: Neo, Spark Capital, Jonathan Crystal, Zach Perret, Qasar Younis
Company Website: https://www.comulate.com/
Software Category: Financial and Accounting
Source: https://www.prnewswire.com/news-releases/comulate-adds-bond-and-workday-in-20m-series-b-to-transform-insurance-with-ai-302373362.html