AI-Powered Home Insurance Startup Expands in Risky Markets (2)

Stand Insurance has raised $35 million in a Series B funding round to expand its artificial intelligence-powered coverage for homeowners.

The company targets insurance markets deemed risky, with policies covering properties valued at a total of $1 billion in wildfire-prone California. The company says it will use the fresh funding to expand into Florida this year, another market with a huge protection gap due to its hurricane exposure.

Stand’s latest fundraising round was led by Eclipse, a California-based investment firm that manages more $5 billion in assets. The startup also counts Lowercarbon Capital and Inspired Capital among its backers.

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