Caffeinated Capital, a technology venture capital firm, led a $25m Series B round in Federato, an insurance industry's first RiskOps underwriting platform, with participation from Emergence Capital and Pear VC. "Since leading their Seed round two years ago, we have been privileged to see the Federato team build something exceptional in P&C insurance. Federato's software is so valuable that billion-dollar global insurance companies and startup MGAs alike buy, use, and evangelize it. After hearing rave reviews from those customers, seeing the company's strong growth, and observing the team's march towards building the Industry Cloud for P&C, we are excited to triple down," Varun Gupta, Caffeinated Capital Partner.