Jones, an InsurTech company revolutionising insurance verification through AI, has secured $15m in a Series B funding round to advance its innovative solutions for the real estate and construction sectors.
The Series B funding round was led by NewSpring Capital, a growth equity firm managing $3.5bn in capital. This round also saw participation from existing investors, including Hetz Ventures, Camber Creek, Khosla Ventures, JLL Spark, DivcoWest Ventures, Rudin Ventures, and Ground Up Ventures.
Jones specialises in simplifying the collection and verification of insurance certificates (COIs), endorsements, and policies, ensuring compliance with precision. It integrates seamlessly with key ERP systems, enabling real estate and construction clients to manage over 25,000 projects across 2.5bn square feet in the United States.
The new funding will support the launch of Jones’ innovative AI-powered agents. These smart assistants are designed to automate routine tasks, reduce manual workloads, and provide autonomous decision-making capabilities. The agents leverage proprietary insurance data, risk benchmarks, and millions of verified insurance documents to enhance efficiency and mitigate legal risks.
Marc Lederman, general partner at NewSpring Capital, said, “COI and insurance policy verification is a highly manual and error-prone process, making it ripe for disruption through automation.
“Jones AI solutions enable construction and real estate companies to scale their departments efficiently while mitigating legal and financial risks in today’s highly litigious environment. As compliance becomes more complex and regulatory demands rise, Jones has ample room for continued expansion and represents exactly the type of growth-oriented business we seek for investment.”
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