Indigo Raises $50 Million to Modernize Medical Malpractice Insurance Nationwide

Funding will accelerate automated underwriting, expand distribution, and scale operations across Indigo’s medical professional liability platform

MIAMI--(BUSINESS WIRE)--Indigo, a vertically integrated, AI-driven medical professional liability platform, today announced the closing of a $50 million oversubscribed Series B financing, led by existing investor Rubicon Founders, with significant participation from new investor Town Hall Ventures, and other existing strategic investors including Optum Ventures.

The new capital will support continued expansion of Indigo’s AI-powered underwriting and distribution platform, enabling faster, more precise coverage decisions for physicians and brokers nationwide.

Founded in 2023, Indigo provides medical professional liability insurance to physicians across a broad range of specialties. The company has rapidly grown to insure nearly 1,000 providers nationwide and has surpassed $10 million in premium. Indigo’s proprietary AI platform, Lux, applies advanced machine learning and purpose-built risk models to automate underwriting workflows traditionally handled through manual, labor-intensive processes.

This technology-led approach has significantly increased underwriting throughput while maintaining disciplined risk selection and strong broker satisfaction. By the end of 2025—less than two years after launch—20% of submissions were fully underwritten automatically, underscoring the scalability of Indigo’s platform and the impact of domain-specific automation on legacy insurance models.

“The next phase of innovation in insurance requires technology purpose-built for complex, specialty risk,” said Jared Kaplan, CEO of Indigo. “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.”

Proceeds will be used to expand research and development, enhance product capabilities, grow distribution partnerships, and scale operations as Indigo continues to redefine how vertical AI can be applied to insurance.

Investor Perspectives

Matt Kim, Indigo Co-Founder and Partner at Rubicon Founders, said, “Indigo is executing at the intersection of deep domain expertise and AI excellence. Their vertical AI strategy isn’t incremental—it fundamentally redefines how risk is assessed, priced, and managed. We’ve seen firsthand how their models improve both the speed and quality of underwriting decisions, and this capital will help them scale faster than legacy carriers have been able to for decades.”

David Whelan, Co-Founder & General Partner at Town Hall Ventures, added, “Indigo represents exactly the type of category-defining opportunity we look for: By layering machine learning over deep insurance expertise, they’ve built a defensible moat and a superior underwriting product. Their ability to quote with lower administrative overhead creates a meaningful advantage in a legacy market, ultimately driving down premiums for high-quality medical groups.”

About Indigo

Indigo is the first AI-driven medical professional liability insurance platform that uses Vertical AI to transform underwriting, distribution, and risk management for physicians and medical groups. Backed by leading healthcare and insurtech investors, Indigo combines advanced machine learning with disciplined underwriting to deliver fast, tailored quotes, reliable coverage, and operational efficiency that benefits brokers, insureds, and the broader healthcare ecosystem alike. Indigo’s mission is to modernize medical malpractice insurance by harnessing the power of AI to reduce friction, improve pricing accuracy, and unlock scalable growth.

About Rubicon Founders

Rubicon Founders is an entrepreneurial healthcare investment firm focused on building and growing transformational companies that create enduring value by transforming the way people receive care. Rubicon Founders brings together a core team of investment, operating, and technology professionals who work to put patients and doctors first.

For more information on Indigo and its technology platform, visit www.getindigo.com.

About Town Hall Ventures

Town Hall Ventures is a health care venture capital firm that invests in cutting-edge technologies and care models to transform health care outcomes and experience, while lowering costs for medically underserved communities. Town Hall combines deep policy expertise, a network of health care talent and trusted access to health systems, payors, and partners to accelerate commercial traction for their portfolio companies. Town Hall has created or invested in 44 companies and manages approx. $1.4B of assets.