The funding round was led by NextView Ventures and Khosla Ventures, with participation from Founders Fund, Steve McLaughlin, founder and managing partner of Financial Technology Partners, Steve Pagliuca, Co-Chair of Bain Capital and Co-Owner of the Boston Celtics, and Plug and Play Ventures.

Lula has quickly evolved from an API-based solution into a comprehensive insurance platform that aims to reduce insurance premiums and insurance related expenses for businesses of all sizes. The platform offers a wide range of tools, including risk management, claims management, policy management, and access to insurance coverage.