Shepherd, a San Francisco, USA-based provider of insurance tech solutions tailored for the commercial construction sector, has successfully closed a Series A funding round, raising $13.5 million.
The financing was spearheaded by Costanoa Ventures, with significant contributions from Intact Ventures, Era Ventures, Greenlight Re, and Spark Capital. Notably, Mark Selcow from Costanoa Ventures will be joining Shepherd’s board of directors.
This influx of capital is earmarked for bolstering Shepherd’s underwriting and software divisions, expediting product development initiatives, and amplifying the scope of its software portfolio.
Under the leadership of CEO Justin Levine, Shepherd is revolutionizing commercial insurance by addressing critical pain points through its innovative risk management platform. By amalgamating insurance capacity with swift underwriting processes, cutting-edge risk management software, and a specialized construction software marketplace, Shepherd simplifies intricate workflows and processes for contractors, ultimately mitigating losses and optimizing premium expenditures.
Since its inception in 2021, Shepherd has garnered adoption among the nation’s premier retail insurance brokers operating within the construction domain. These brokers leverage Shepherd’s platform for efficient underwriting, benefitting from its remarkable 24-hour submission-to-indication turnaround time.
Furthermore, Shepherd is poised to unveil its latest software solution, Shepherd Compliance, designed to streamline and automate vendor compliance assessments. Harnessing the power of artificial intelligence, this cutting-edge solution streamlines PDF-based data reviews and automates the management of associated workflows. Shepherd Compliance is tailor-made for the convenience of policyholders and seamlessly integrates with popular project management platforms such as Procore, ensuring seamless compatibility across existing systems.
Commenting on the news, Justin Levine said: “Our mission at Shepherd is ambitious but simple: to create the first comprehensive platform that combines top-tier insurance offerings with world-class software to help commercial businesses manage risk and prevent losses.”
———–
If you are a proptech company and want to promote your products, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at media.proptechbuzz.com, for news tips and promotions, reach out to marketing@proptechbuzz.com
By Proptechbuzz
By Ravi Kumar
