Novella raises $21 million

Novella Technologies , the “AI-powered wholesale insurance broker,” has raised $21 million in a funding round led by Brewer Lane Ventures, with participation from Box Group, Crystal Venture Partners, SV Angel, Avid Ventures, Verissimo Ventures, Blank Ventures, and Arch.

Founded in 2024 and based in New York, Novella is targeting the excess and surplus insurance market. The company plans to use the capital to recruit a team of brokers and continue developing its “proprietary AI platform” to help brokers become ‘super-producers.’

Novella has a research and development facility in Tel Aviv and has opened offices in Miami, Florida, and Houston, Texas, and it plans further US openings, including in southern California in Q2.

“We believe pairing world-class producers with world-class AI is the recipe for success. AI will make the best producers far better at their job, enabling them to better serve clients and focus on building bigger, more profitable books of business.” – Founder and CEO Max Kane.

“Wholesale broking, at heart, is about human relationships. Our producers need to be close to our retail brokers, so we will be expanding strategically across the country over the coming years. Novella is the first wholesaler to effectively blend AI and talent. Wholesalers spend years building relationships. Novella makes them better at it – that’s why top brokers are joining the team, and how they’re changing specialty insurance.” – Chris Downer, General Partner at Brewer Lane Ventures.