Startup profile for Lula: what they do, why they are interesting, stage (series a), industries, and links to our funding articles. Part of the Venture Capital Tracker startup directory.
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Startup profile · funding coverage

Lula startup funding profile

API-first insurance infrastructure for fleets, rentals, and logistics — the Stripe layer for commercial insurance programs.

Stage

series a

Status

private

Coverage

full

Overview

Lula provides API-based insurance infrastructure so businesses can quote, bind, and manage commercial insurance programs inside their own software. Founded in Miami in 2020 by twin brothers Matthew and Michael Vega-Sanz, Lula launched serving car-rental and car-sharing operators, expanded to trucking in 2021, and reported profitable months within its first year of operations. The July 2021 $18M Series A was co-led by Founders Fund and Khosla Ventures with SoftBank Opportunity Fund, Bill Ackman, NextView Ventures, and Florida Funders participating.

Why Lula is interesting

Miami twin founders Matthew and Michael Vega-Sanz co-led a $18M Series A (Jul 2021) with Founders Fund and Khosla — one of the largest Miami Series A rounds of that cycle — by productizing insurance ops for car-rental and trucking fleets instead of selling policies direct-to-consumer.

Product & use cases

Lula's APIs let fleet, rental, and logistics platforms embed insurance quoting, binding, fraud checks, and policy management — replacing broker PDFs and manual underwriting workflows.

  • Car-rental and car-sharing fleets needing per-trip or per-vehicle coverage APIs
  • Trucking operators integrating cargo and liability coverage into dispatch software
  • Platforms white-labeling insurance products for SMB asset operators

Key facts

  • Series A (Jul 2021): $18M co-led by Founders Fund and Khosla Ventures (TechCrunch)
  • SoftBank Opportunity Fund, Bill Ackman, NextView, Florida Funders participated
  • Reported 1,600+ companies on waitlist within four days of trucking launch (Apr 2021)
  • Founders are Miami natives; company HQ in South Miami per 2021 press

Fundraising history

Series A

2021-07 $18M

Source: https://techcrunch.com/2021/07/08/miami-based-twins-raise-18m-for-lula/

Investors in our directory

Funds linked from Lula's profile — open a fund page for stage focus and related deal articles.

Founders Fund Khosla Ventures

Competitive landscape

Edge: Infrastructure positioning — Lula sells to platforms that already own customer relationships, avoiding direct consumer insurtech CAC wars. Founders Fund's Delian Asparouhov joined the board at Series A.

  • Cover Genius adjacent

    Embedded insurance APIs for e-commerce and travel platforms.

  • Root / Lemonade adjacent

    Consumer-facing insurers — different GTM than B2B infrastructure.

  • Traditional brokers incumbent

    Manual workflows Lula replaces with API integrations.

Notable stories

  • CEO Matthew Vega-Sanz told press that when the twins moved from Boston to build in Miami, skeptics said a generational company could not be built there — the $18M round was cited as proof of Miami's maturing institutional capital (TechCrunch, Jul 2021).

Industries

Fintech Enterprise SaaS

Related funding articles

Venture Capital Tracker pieces that cover Lula's financing or category context.

FAQs about Lula

Practical answers founders, operators, and investors typically search for.

Lula provides API-based insurance infrastructure for fleets, rentals, and logistics platforms to quote, bind, and manage commercial insurance programs.
Founders Fund and Khosla Ventures co-led the $18M Series A (Jul 2021). See /fund/founders-fund and /fund/khosla-ventures.
Miami, FL — South Miami HQ cited in 2021 funding press.
2020; formal launch August 2020 per company press.
No — Lula is B2B infrastructure ('Stripe for insurance') embedded in fleet and rental software.
$18M Series A publicly disclosed July 2021; earlier pre-seed included NextView Ventures.
One of the largest Miami Series A rounds of 2021 with Founders Fund and Khosla co-leads — a local infrastructure win, not just LatAm fintech tourism.
Both embed insurance via APIs; Lula focuses on commercial fleet/rental/logistics operators.
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Last updated: 2026-07-29