January 29, 2026 by matray

Indigo closed a $50 million oversubscribed Series B financing round to accelerate expansion of its AI-driven medical professional liability insurance underwriting and distribution platform, the company announced today. The round was led by existing investor Rubicon Founders, with participation from new investor Town Hall Ventures and existing strategic investor Optum Ventures.

Indigo provides MPL coverage to physicians across multiple specialties. The company — launched in 2023 — said it now insures nearly 1,000 providers nationwide and has surpassed $10 million in premium. Proceeds from the financing will be used to expand research and development, grow distribution partnerships and scale operations.

Indigo’s underwriting platform, Lux, applies advanced machine learning and purpose-built risk models to automate underwriting workflows traditionally handled through manual, labor-intensive processes. By the end of 2025, about 20% of submissions were fully underwritten automatically, the company said.

“The next phase of innovation in insurance requires technology purpose-built for complex, specialty risk,” said Jared Kaplan, Indigo chief executive officer. “This funding allows us to expand our technology footprint, deepen underwriting rigor and deliver an exceptional ease-of-doing-business experience for brokers — while ensuring physicians receive pricing and coverage aligned with their true risk profile. Our results demonstrate that advanced automation can drive profitable growth while reducing operational friction.”

Investors said the platform’s automation accelerates underwriting without sacrificing risk discipline. Matt Kim, a co-founder of Indigo and a partner at Rubicon Founders, said the company’s technology is fundamentally redefining how MPL risk is assessed, priced and managed. David Whelan, co-founder and general partner at Town Hall Ventures, said Indigo’s lower underwriting overhead gives it an advantage in a legacy market still dominated by manual processes.