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About Comulate
Industries
Fintech
Financial Services
Company Size
11-50
Company Stage
Series B
Total Funding
$24M
Headquarters
San Francisco, California
Founded
2022
Overview
Company Does Not Provide H1B Sponsorship
Comulate uses artificial intelligence to improve the insurance industry by automating accounting tasks. Their technology helps major insurance brokers by significantly reducing the amount of manual work required in accounting processes, achieving over 90% automation. This level of efficiency sets Comulate apart from other companies in the insurance technology space, as it focuses specifically on streamlining back-office operations. The goal of Comulate is to create a more efficient and effective future for insurance companies by minimizing manual tasks and enhancing productivity.
Simplify's Take
What believers are saying
- Comulate raised $20M in Series B, boosting growth potential.
- The insurance industry's digital shift supports Comulate's innovative platform.
- Partnerships with financial service providers enhance Comulate's market reach.
What critics are saying
- Comulate faces competition from established insurtech players like Guidewire.
- Rapid growth may challenge Comulate's ability to maintain service quality.
- Dependence on large clients poses a risk if they switch to competitors.
What makes Comulate unique
- Comulate offers AI-driven accounting solutions tailored for insurance brokers.
- The platform saves clients significant work hours, enhancing operational efficiency.
- Comulate's integration with Workday enhances its value proposition for shared customers.
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Funding
Total Funding
$24M
Below
Industry Average
Funded Over
2 Rounds
Industry standards
Benefits
Health Insurance
Dental Insurance
Vision Insurance
401(k) Retirement Plan
Unlimited Paid Time Off
Paid Parental Leave
Growth & Insights and Company News
6 month growth
↓ -10%1 year growth
↓ -10%2 year growth
↓ -10%Comulate, a San Francisco-based startup, raised $20 million in a Series B funding round led by BOND and Workday Ventures. The company, founded in 2022, offers an accounting automation and revenue intelligence platform for insurance brokers. As part of the investment, Comulate joins Workday’s Partner Program to enhance integration for shared customers. The startup has achieved 8-figure revenues in under three years and serves clients like IMA Financial and Hilb Group.
Comulate, a startup enhancing insurance companies' billing and revenue operations, raised $20M in a Series B round led by Bond and Workday. The funding follows a year of rapid growth, with revenues tripling to tens of millions. Initially focused on SaaS, founders Jordan Katz and Michael Mattheakis pivoted to insurance, addressing outdated processes with machine learning and AI. Comulate's clients include Baldwin Group and IMA Financial, saving them 260,000 work hours.
Comulate is Hiring for 11 Jobs on Simplify!
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About Comulate
Industries
Fintech
Financial Services
Company Size
11-50
Company Stage
Series B
Total Funding
$24M
Headquarters
San Francisco, California
Founded
2022
Comulate is Hiring for 11 Jobs on Simplify!
Find jobs on Simplify and start your career today