Bold Penguin raises $32 million to match insurance carriers with prospects

Bold Penguin, a commercial insurance tech provider headquartered in Columbus, Ohio, today announced that it has secured $32 million in a series B funding round, bringing its total raised to over $50 million. Growth equity firms Hudson Structured Capital Management, Lightstone, Guggenheim Insurance, and Lockton participated, along with existing investors and individuals from Stone Point Capital. CEO Ilya Bodner said the capital will accelerate research and development by way of growing Bold Penguin’s employee roster, which doubled in the past year. He said it will also lay runway for the expansion of the firm’s Excess and Surplus (E&S) lines, or the specialty markets that insure high-risk segments standard insurance carriers won’t cover.