Ledgebrook announces close of oversubscribed Series C Funding Round, led by existing investor Stephens Group

NEEDHAM, Mass. and LITTLE ROCK, Ark., June 24, 2025 /PRNewswire/ -- Ledgebrook Inc, an Excess and Surplus Lines Insurtech, announced today that it has completed the close of an oversubscribed $65m Series C funding round, led by existing investor The Stephens Group, LLC ("Stephens Group"), a leading private investment firm. Existing investors Duquesne, Brand Foundry, Floating Point, and American Family Ventures will also participate in the round, alongside new investors, including Hummingbird Nomads.

"I'm really excited to deepen our collaboration with Stephens Group and the Stephens Family. Their fair, open, honest and long-term approach to business partnerships, matches our own at Ledgebrook and has shone through since their initial investment last year," said Gage Caligaris, Founder and Chief Executive Officer of Ledgebrook.

"The round recognizes the momentum in our business. It positions Ledgebrook to truly establish itself as a premier E + S platform, known for consistent execution on our mission to delight wholesale brokers and for bringing together the best of insurance expertise and technology. I am proud of the backing we have from our existing and new investors and am incredibly grateful for their support."

The funding round will allow Ledgebrook to bring in further talent to grow and enhance its client-service-led approach to wholesale brokers, offer new insurance products through its platform, and participate further in retaining risk on the insurance it is writing on behalf of its carrier partners. Ledgebrook gains the deeper involvement of an experienced partner in Stephens Group, with a long history of helping to build great businesses.

Ledgebrook management and employees will continue to be the largest shareholders in the company. Ryan Morrow, Managing Director at Stephens Group, will join Ledgebrook's Board of Directors.

"Ledgebrook is a unique and truly impressive, founder-led platform in the attractive E+S marketplace with fantastic early momentum," said Morrow. "We look forward to a partnership with Gage and Ledgebrook for many years ahead. We and our co-investors could not be more excited to partner with the team as the business scales."

Advisors
DLA Piper LLP has served as legal counsel to Ledgebrook. Stinson LLP has served as legal counsel to Stephens Group.

About Ledgebrook

To learn more about Ledgebrook and opportunities to join our team, please visit www.ledgebrook.com

About The Stephens Group LLC.

The Stephens Group, LLC is a private investment firm that partners with talented management teams to help build valuable businesses. Backed by the resources of the Witt Stephens, Jr. and Elizabeth Campbell families, the firm combines the operational expertise of a private equity firm with the flexibility provided by long-term capital. With over $2 billion of private equity assets under management, the firm has a long history of providing informed, sophisticated expertise and working with owners and managers to help them successfully achieve their strategic visions and build long-term value. Since 2006, Stephens Group has invested in over 50 companies, targeting investments in industries across the U.S., including industrial products and services, specialty distribution, and vertical software.

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SOURCE Ledgebrook