Stepstone Group led a $40m Series C round in Federato.

Stepstone Group, global private markets firm, led a $40m Series C round in Federato, a US-based insurtech start-up, with participation from Emergence Capital, Caffeinated Capital and Pear VC. "We have been closely following Federato's rapid growth over the past five years as an LP [limited partner] in several organisations who have been investors in the company since inception. Founders Will and William's deep expertise in AI and their dedication to bringing a true vertical AI product to the insurance industry is impressive. Federato's fast-growing customer base is a testament to the impact they have already delivered,"John Avirett, StepStone Group Partner.