Stand Raises $70 Million in Series C Funding
Stand, a San Francisco-based homeowners insurance provider, announced it has raised $70 million in a Series C funding round. The round was led by Saga Ventures, with participation from Eclipse, Equal Ventures, Inspired Capital, Jackson Square Ventures, Lowercarbon, and NeoTribe.
Stand offers full homeowners insurance designed to be more personalized by pricing policies based on individual homes rather than ZIP codes. The company provides concierge protection and coverage tailored for high-value homes in California and Florida, aiming to incentivize homeowners to improve their property safety for potential premium reductions.
Leadership and Vision
Stand was co-founded by Dan Preston, who serves as CEO, alongside Jason Mueller, Bill Clerico, and Sam Shank. The leadership team is focused on redefining the homeowners insurance market by offering more tailored and cost-effective solutions for their clients.
Strategic Use of Funds
While Stand has not specified detailed plans for the newly acquired funds, the investment is expected to support further expansion of their services in existing markets. The company may also invest in enhancing its technology platform to better serve its customers.
Investor Confidence
The participation of prominent investors such as Eclipse, Equal Ventures, and Inspired Capital, alongside lead investor Saga Ventures, reflects strong confidence in Stand's business model and growth potential. This latest funding round positions the company to continue its innovative approach in the insurance sector.