Comulate, a startup developing billing and revenue operations technology for insurance companies, has secured US$20 million in a series B funding round co-led by Bond and Workday.

The investment will help used to expand its technology offerings and scale operations.

The US-based company previously raised US$5 million from investors, including Spark Capital, but has not disclosed its current valuation.

Co-founded by CEO Jordan Katz and CTO Michael Mattheakis, Comulate saw significant growth in 2024, tripling its revenue to the “tens of millions” and attracting large firms.

Originally building tools for SaaS, it shifted to insurance to address industry inefficiencies.