Luzern Risk raises $45M Series B

Insight Partners led the round, with Trust Ventures joining and Caffeinated Capital returning. Caffeinated Capital led the 2023 seed and the $12 million Series A in 2025. One secondary report puts total capital raised at roughly $59.8 million. Valuation was not disclosed in the sources reviewed. The company is New York-based and run by CEO and co-founder Gabriel Weiss and CTO Jonathan York. The company says the money goes to three things: developing its AI-native platform, systemizing processes to cut turnaround times, and giving clients more options across the alternative risk chain. The platform is meant to shorten the time needed to launch and manage custom captive insurance programs at scale. Luzern works with brokers, fronting carriers, reinsurers and advisors. The thesis is that captives, long used by the largest corporations, can reach a wider mid-market audience if software absorbs the setup and administrative work. Insight's Philine Huizing described a structural expansion of the captive market beyond large multinationals. For AI founders, this is a services-plus-software model: the company is a licensed manager that earns from running programs, with AI used to compress the labor behind each one. Investors are backing that approach in a regulated, relationship-heavy niche.