Bold Penguin, a Columbus Ohio commercial insurance technology provider, is pleased to announce the completion of the $32 million Series B funding round, bringing the total capital raised to date to more than $50 million.
Participation included growth capital firms Hudson Structured Capital Management Ltd. Lightstone, Guggenheim Insurance, Lockton, existing investors and Stone Point Capital individuals
The company says the additional capital is intended to accelerate the growth of engineering. It plans to deliver on-platform enhancements that include more flexibility in how core technology leverages enterprise customers, expands on Excess and Surplus (E&S) lines, and maintains the rapid pace of accepted carrier integrations needed to support 950,000 businesses through Bold Penguin’s technology.
“Commercial insurance is a fantastic insurance area that welcomes upgrades,” said Ilya Bodner, founder and CEO of Bold Penguin. “It is very exciting in this next chapter of our company to have support from not only the industry but also the investment community to help solve problems from within,” Bodner adds.
Bold Penguin, which began in 2016, has rapidly grown to support commercial insurance infrastructure for industry giants and distribution channels. It allows commercial insurance to be quoted and binding in hours or minutes as opposed to traditional methods that sometimes take weeks.
“We are thrilled to partner with our investors as we build the next generation of commercial insurance products and features. Building a technology company right here in Columbus Ohio was great for us and the region,” said Ben Clarke CTO and co-founder of Bold Penguin.
The Bold Penguin
Bold Penguin is where technology enhances the human touch of commercial insurance With a strong focus on agents, Bold Penguin upgrades business user experience, creates an easy tool for agents, and offers a streamlined underwriting process for carriers. Founded by a group of entrepreneurs who spent their early days working with Allstate, Nationwide and Progressive, alongside regional carriers and established insurance companies. Please visit www for more details The Dark Penguin Come on,
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