Stand, a property InsurTech that uses physics-based simulation to make homes safer against natural disasters, has secured $70m in a Series C round that values the business at $1bn and lifts its total funding to $130m.
Saga Ventures led the investment, joined by Lowercarbon, Eclipse, Equal Ventures, Inspired Capital, Neotribe and Jackson Square Ventures, along with other backers. The capital comes during a period of rapid expansion. The total value of property insured by Stand has grown tenfold in twelve months, from $1bn to more than $10bn.
The firm says it is responding to a worsening disaster landscape in the US, where a weather event causing $1bn or more in damage now occurs roughly every 10 days. Homeowners are facing rising premiums, difficulty renewing policies and unpredictable costs, often despite no changes to their property. Stand attributes this to an industry that sets prices based on historical losses. Its alternative is to model how an individual home would behave in a catastrophe, strengthen it, and then provide long-term cover with greater certainty.
Central to this approach is the Stand World Model, which builds a digital version of each property and tests how it would hold up against wildfire, wind and other hazards. The model factors in building materials, the surrounding environment and local weather exposure. Rather than relying on decades of past claims data, the system identifies the specific weaknesses of a home and the most economical measures to address them.
Once vulnerabilities are identified, Stand suggests upgrades designed to improve safety without compromising the look of the property. The company supports homeowners through the process, linking them with vetted partners and verifying finished work on their behalf. Because hardened homes face a lower risk of wildfire damage, Stand passes on those savings through premium discounts of as much as 70%, while also offering owners and brokers more predictable pricing and coverage over the long term.
It underwrites and services policies issued by Concert Specialty Insurance Company (AM Best A-) in California and Stand Insurance Exchange (Demotech A) in Florida, with reinsurance provided by AM Best A and A+ rated firms including Arch, RenaissanceRe, Hannover, Nephila and Hiscox.
Alongside the funding, Stand has strengthened its leadership team with two senior hires. Drew Saad has been appointed president of property and casualty, having previously served as chief underwriting officer at PURE Insurance, where he oversaw underwriting at a major high-net-worth insurer. Tony Landi joins as CFO from Nephila, a leading catastrophe reinsurance fund manager, where he was head of strategic growth. His earlier roles include head of reinsurance and capital management at Openly and head of portfolio management at Everest Re. At Stand, he will oversee finance, reinsurance, capital markets and growth strategy.
Stand co-founder and CEO Dan Preston said, “Disasters follow the laws of physics, and insurance should too. If your home is resilient, you should be rewarded with a low premium and never have to worry about losing your coverage. We want to insure every resilient property in the world, and help make every property safe.”
Stand president of property & casualty Drew Saad said, “The companies that reshape a market for decades are the ones that identify a fundamentally better way to understand risk, and Stand has done that for the homes exposed to natural disasters.
“With the science already in place, the opportunity now is to build an insurance operation that matches it and scales it to every market that needs it. That is the work I have spent my career preparing for, and it is why I joined Stand.”
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