Startup profile · funding coverage
Lula funding, valuation and investors
API-first insurance infrastructure for fleets, rentals, and logistics — the Stripe layer for commercial insurance programs.
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Funding, valuation & investors
Answer-first snapshotLatest funding
Series A
$18M · July 2021
Latest known valuation
Not publicly disclosed
Total disclosed equity funding
$18M
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
private
series a · Miami, FL
Investors in latest funding
Lead: Founders Fund , Khosla Ventures
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
Funding history (newest first)
Series A
2021-07 $18MSource: 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.
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.
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Cover Genius adjacent
Embedded insurance APIs for e-commerce and travel platforms.
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Root / Lemonade adjacent
Consumer-facing insurers — different GTM than B2B infrastructure.
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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
Market / IPO context
Editorial / static context — not a live quote.
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.
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Editorial note: AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.