Commercial auto managing general agency Fairmatic has rebranded as Leeo, led by CEO Jeffrey Chen.
The rebrand signifies a “renewed focus and direction,” the AI-powered, San Francisco-based MGA announced Monday.
Mr. Chen was appointed CEO in August after Fairmatic announced that founder Jonathan Matus would step down from the CEO role due to medical reasons.
“With Leeo, we are building a future defined by smarter underwriting, faster quoting and greater transparency powered by telematics and data,” Mr. Chen said in a statement.
Leeo is backed by venture capital and private equity firms Battery Ventures, Foundation Capital and Aquiline Technology Growth.
Fairmatic, founded in 2019, announced in 2023 it had raised total financing of $88 million from these companies and other insurtech, fintech and technology investors.
