Luzern Risk gets $12m investment boost
Luzern Risk, formerly XN Captive, has announced a $12 million Series A investment from Caffeinated Capital to accelerate its mission to modernise captive insurance for the underserved middle market.
According to Luzern Risk it delivers the first fully integrated, digital captive solution—blending intelligent software with insurance expertise to give businesses strategic control over risk, capital, and performance.
As insurers raise premiums, restrict coverage, and exit entire markets, more businesses are searching for ways to reduce volatility and optimise cash flow, the company claimed. For decades, the Fortune 500 has relied on captive insurance as the quiet cornerstone of risk strategy given its ability to deliver control over coverage and convert unpredictable insurance expenses into retained profit.
However, captive adoption across the middle market—where many well-managed businesses overpay for traditional insurance—has been limited by the complexities of formation.
Luzern said that it makes captive ownership more accessible with a customer-friendly, all-in-one platform geared to streamline decision-making and tailor solutions to the unique needs of each client.
“Captives have always been a powerful lever for insurance control, but until now, they've remained the domain of only the largest, best-resourced organisations,” said Gabriel Weiss, chief executive and co-founder of Luzern Risk. “We've engineered the Luzern platform as the bridge to profitable insurance ownership for everyone.”
Luzern Risk replaces an opaque and cumbersome captive formation process with a single, intuitive platform. From initial analysis to ongoing management, Luzern unifies every aspect of the captive lifecycle for new and existing captive owners, as well as agencies and program partners, into a digital system designed for clarity, ease of use, and long-term growth.
“Luzern represents the future of risk infrastructure,” said Varun Gupta, general partner at Caffeinated Capital. “This isn't just software for a legacy industry. Luzern is shaping a new reality, where businesses approach insurance not as a line item, but as a strategic asset.”
“There was a time when you had to call your stockbroker to get a share price quote. Now you can do it instantly. We see a similar opportunity to modernise captive insurance through design and a world-class customer experience,” said Jonathan York, CTO of Luzern Risk and formerly head of digital transformation & client technology at Bridgewater Associates. “Our platform replaces reams of paper and perpetual uncertainty with a digital command centre—and the power of insurance ownership.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
