Federato has raised $100 million in Series D funding led by Growth Equity at Goldman Sachs Alternatives, with Emergence Capital, Caffeinated Capital, StepStone Group and Pear VC returning, according to the Business Wire release of 18 November 2025. The AI-native insurance software company said total capital raised now exceeds $180 million, with proceeds aimed at product innovation and global expansion.
Co-founder and chief executive Will Ross said executives already use AI daily but “aren’t getting that from AI bolted on to legacy solutions,” and that demand for true AI-native capability has surprised even Federato. Jade Mandel, managing director in Growth Equity at Goldman Sachs Alternatives, said diligence in P&C insurance showed a step change in ROI and efficiency versus prior generations of core systems.
Federato said revenues tripled in the prior year after a $40 million Series C less than twelve months earlier. Customer voices in the release included Mission’s Michael Waller on time-to-value and Ascot’s Elizabeth Johnson on underwriting excellence amplified by integrated tools. Performance and growth figures are the company’s.
Federato positions the platform as an independent alternative to legacy policy admin cores, with agentic AI embedded in underwriting and policy lifecycle workflows rather than bolted on.