Shepherd raises $42M
InsurTech Shepherd closed a $42 million Series B to build AI‑native underwriting and risk products aimed at companies running AI infrastructure — investors pitched it as solving insurance for the AI stack. The round signals continued investor appetite for InsurTechs that combine data, underwriting automation and bespoke coverage. (prnewswire.com)
The funding round was led by Intact Private Capital with continued participation from Spark Capital, Costanoa Ventures and Nationwide Ventures, bringing Shepherd’s total equity raised to about $67 million to date. (coverager.com) Shepherd positions its product set around insuring the physical projects that power AI — naming data centers, energy assets and critical infrastructure as core targets for its underwriting platform. (prnewswire.com) The company says its proprietary underwriting engine can produce pricing in minutes and integrates construction project data into risk models to accelerate bind times for complex builds. (prnewswire.com) Reporting from Axios notes Shepherd ingests data from project-management software to inform underwriting decisions, a capability that underpins faster offers for large-scale infrastructure programs. (axios.com) Shepherd’s commercial approach has leaned on underwriters as primary go‑to‑market drivers, a model the company credits with reaching double‑digit millions in revenue without a traditional sales force. (bricks-bytes.com) Founder and CEO Justin Levine previously co‑founded TradeTapp and moved through an acquisition into Autodesk’s construction stack, a background Shepherd cites when explaining its focus on construction risk and data integration. (builtworlds.com) Shepherd has announced partnerships that tie site imagery and jobsite telemetry into underwriting workflows (OpenSpace), and previously launched an AI‑powered compliance tool in 2024 as part of its software suite to reduce manual risk review. (openspace.ai (fintechfutures.com)
