Stere
Stere is a company.
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Financial History
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Valuation
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Leadership Team
Key people at Stere.
Stere is a company.
Key people at Stere.
Key people at Stere.
Stere is an insurtech startup founded in 2021 that provides an API-first, AI-enabled platform for insurers, MGAs (managing general agents), and distribution partners to build, deploy, and manage insurance products efficiently.[1][3][4] It specializes in capacity trading, embedded insurance APIs, and tools that streamline capacity sourcing from insurers, reinsurers, and ILS (insurance-linked securities) funds, solving friction in program launches, scalability, and ongoing capacity needs for MGAs and embedded partners.[1][2][4] Serving over 50 MGAs (representing $1.5B+ in annual premium), 20+ embedded insurance partners, and expanding into Latin America with $2M contracted revenue, Stere has raised $7M total ($2M seed in 2021, $5M seed+ in 2022) from investors like Fin VC, Plug and Play Ventures, Sandalphon Capital, Hartford Investment Management, and Vida Capital.[1][2]
The platform's core offerings include Capacity APIs for seamless connectivity, a trading platform for alternative capacity sources, rapid product builders, analytics, and global infrastructure across 15+ countries, enabling speed-to-market, cost reduction, and data-driven growth in insurance distribution.[1][3][4]
Stere was founded in 2021 in New York (incorporated in Dover, US) by Dogan Kaleli, former Head of Program Business North America at Allianz, who leveraged his insurance expertise to address capacity sourcing inefficiencies in the MGA and program space.[2][3][5] The idea emerged from Kaleli's experience at Allianz, targeting the modernization of relationship-driven insurance programs through technology for faster launches and frictionless capacity access, including ILS funds alongside traditional sources.[2]
Early traction was swift: By mid-2022, Stere onboarded 50+ MGAs ($1.5B premium), secured 20+ embedded deals, opened a Latin America office with 15 deals and $2M revenue, following its $2M seed round led by Fin VC (with Plug and Play, Sandalphon, Hartford, and angels).[1][2] A $5M seed+ round in 2022 from Vida Capital fueled platform expansion.[1]
Stere rides the insurtech wave modernizing the $100B+ MGA/program segment, where capacity constraints and slow launches hinder growth amid rising embedded insurance demand (e.g., via fintechs, brokers).[2][4] Timing aligns with post-2021 hardening reinsurance markets and ILS growth, making tech-driven capacity marketplaces essential for MGAs to access diverse providers efficiently.[1][2] Favorable forces include API proliferation in finance/insurance, AI for risk analytics, and global expansion needs; Stere influences the ecosystem by enabling 40-50+ partners to scale programs, fostering data-driven efficiency in a traditionally opaque industry.[1][2][3]
Stere is poised to dominate as a one-stop capacity and distribution hub, expanding its trading forum with AI enhancements and deeper ILS integration, potentially capturing more of the embedded insurtech boom.[1][2] Trends like regulatory pushes for digital insurance, LatAm growth, and real-time analytics will propel it; influence may evolve toward full-stack origination/structuring, mirroring backers like Vida. With $7M raised and early revenue, expect Series A pursuits and 100+ MGA signups by 2026, solidifying its role in scalable insurance ecosystems—echoing its mission to unlock growth through smart tech.
