Stand, an innovative insurance company focused on protecting catastrophe-exposed properties, has closed a $35m Series B funding round.
The funding round was led by Eclipse, with continued support from previous investors, Inspired Capital, Lowercarbon Capital, and Equal Ventures, according to InsurTech Insights.
Founded just over a year ago, Stand underwrites insurance for properties exposed to natural disasters, initially focusing on wildfire-prone regions such as California.
The company employs a resilience-based model that ties coverage to mitigation upgrades, helping homeowners reduce long-term risk while lowering insurance costs.
Its underwriting uses physics-based models to assess how structures withstand extreme weather, originally applied to wildfires and now extended to wind exposure.
The new $35m funding will accelerate Stand’s expansion into Florida, one of the United States’ most volatile catastrophe markets. According to the National Oceanic and Atmospheric Administration (NOAA), Florida has suffered 94 separate billion-dollar disasters since 1980, with the last seven alone causing over $1tn in losses.
The state’s insurer of last resort, Citizens Property Insurance Corporation, carries nearly $300bn in exposure, highlighting the pressing need for sustainable private insurance solutions.
Stand has grown rapidly since its launch, underwriting $1bn in insured value in California alone.
The company now aims to apply its resilience-linked insurance model to Florida, providing coverage that encourages homeowners to reinforce homes against windstorms and other natural hazards.
“Insurance should play a central role in creating resilient communities,” Stand co-founder and CEO Dan Preston said. “The scale of risk in Florida demands a new model that links coverage to hardening homes against windstorms. That is what Stand is building. By expanding into the largest catastrophe market in the country, we are working hard to make this a reality for property owners everywhere.”
“Over the last 10 years, U.S. weather disasters have caused over $1.4 trillion in losses, with less than half insured,” Eclipse partner and Stand board director Aidan Madigan-Curtis said. “Rising costs and shrinking coverage are leaving American families exposed. Eclipse’s $30m investment in Stand reflects our belief that resilience is the future, giving property owners the tools to safeguard their homes and their financial security.”
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