Stand, an InsurTech company focused on protecting and insuring homes in areas vulnerable to natural disasters, has raised $70 million in a Series C funding round, bringing its valuation to $1 billion.
The funding round was led by Saga Ventures, with participation from existing and new investors, including Lowercarbon, Eclipse, Equal Ventures, Inspired Capital, Neotribe, and Jackson Square Ventures. With this latest investment, Stand’s total funding has reached $130 million. Over the past year, the value of properties covered by the company has increased tenfold, growing from $1 billion to more than $10 billion.
Addressing the Growing Home Insurance Challenge
Stand is tackling the increasing challenges homeowners face in regions exposed to natural catastrophes. According to the company, the United States experiences a weather disaster causing at least $1 billion in damage approximately every ten days.
As climate-related risks increase, homeowners are dealing with higher insurance premiums, difficulties renewing policies, and uncertainty about maintaining coverage, even when their properties have not changed. Stand believes traditional insurance pricing methods, which rely heavily on historical catastrophe data, may not adequately reflect the specific risks associated with individual homes.
To address this challenge, the company uses a physics-based approach to assess property risks and identify practical ways to improve resilience.
AI-Powered Property Risk Assessment
Stand’s technology is built around its Stand World Model, which creates a digital representation of each property to evaluate how it may withstand wildfires, strong winds, and other natural hazards.
The model assesses several factors, including a home’s construction, surrounding environment, and exposure to local weather conditions. Instead of relying primarily on decades of historical insurance claims, the system evaluates the physical characteristics that make each property vulnerable and identifies cost-effective measures to reduce those risks.
Based on these assessments, Stand recommends home improvements designed to strengthen protection against natural disasters while preserving the property’s original character.
The company also supports homeowners throughout the improvement process by providing step-by-step guidance, connecting them with trusted service providers, and verifying that the recommended work has been completed. Once a property becomes more resilient, Stand reflects the reduced risk in insurance pricing, offering discounts of up to 70%.
This approach aims to help homeowners and insurance brokers access competitive premiums and more stable coverage over the long term.
Insurance Operations and Coverage
Stand underwrites and services insurance policies issued by Concert Specialty Insurance Company in California, which holds an A- rating from AM Best, and Stand Insurance Exchange in Florida, which is rated A by Demotech.
These insurance arrangements support the company’s efforts to provide coverage for homes in areas facing elevated natural catastrophe risks.
Stand Strengthens Leadership Team for Expansion
Alongside the funding announcement, Stand has appointed two senior executives to support its next phase of growth.
Drew Saad has joined the company as president of property and casualty. He previously served as chief underwriting officer at PURE Insurance, where he was responsible for overseeing underwriting operations for one of the leading high-net-worth insurance providers in the United States.
Tony Landi has been appointed chief financial officer, joining from Nephila, a major global catastrophe reinsurance fund manager, where he served as head of strategic growth. His previous experience also includes roles as head of reinsurance and capital management at Openly and head of portfolio management at Everest Re.
At Stand, Landi will oversee finance, reinsurance, capital markets, and growth strategy.
With its latest funding round, expanding property coverage, and experienced leadership appointments, Stand is positioning itself to grow its home insurance business while helping property owners better prepare for the financial and physical risks associated with natural disasters.
