Weather & Science
AI-Powered Home Insurance Startup Expands in Risky Markets
Stand Insurance provides policies covering properties valued at a total of $1 billion in California. With its new Series B, it looks to start operations in Florida.
Volunteers search for personal belongings at a home destroyed in the Eaton Fire in Altadena, California.
Photographer: Mark Abramson/BloombergStand 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.