Honeycomb Insurance, a digital insurer focused on apartment buildings and condominium associations, announced a $40 million funding round led by Zeev Ventures, bringing the company’s total funding to $95 million.
The round included participation from existing investor Ibex Investors as well as new investors Peakline, Alpha Partners, Meitar Partners, Practical VC, and former San Francisco 49ers champion Harris Barton.
The company plans to use the new capital to expand into additional geographic markets, enhance agent-facing technology, broaden its product portfolio, and continue developing its proprietary AI-powered underwriting platform.
Honeycomb has emerged as a rapidly growing player in the commercial real estate insurance sector. The company reported gross written premium (GWP) of $275 million exiting 2025, expanded operations into additional states, broadened its insurance offerings, and increased the total insured value (TIV) covered across its platform.
The company’s underwriting model is built around proprietary artificial intelligence and risk assessment technology that evaluates properties on an individual building basis. Honeycomb analyzes hundreds of structured and unstructured data points, including geospatial information, environmental data, building characteristics, historical performance metrics, and high-resolution imagery to assess risk and determine pricing.
Unlike many traditional insurers that rely on manual underwriting processes and broad risk categories, Honeycomb said its platform enables more granular risk evaluation, allowing it to provide coverage for well-maintained properties that may be overlooked by conventional carriers.
The company currently operates across more than 20 states and provides admitted and non-admitted insurance products in 22 states, representing coverage across more than 65% of the U.S. population. Honeycomb manages more than $100 billion in insured assets and plans to continue expanding its geographic footprint.
Headquartered in Chicago with offices in the United States and Israel, Honeycomb was founded by insurance and real estate industry veterans and focuses on leveraging technology to streamline underwriting and eliminate the need for physical property inspections.
KEY QUOTES:
“We are building Honeycomb to be the category leader in commercial real estate insurance. We didn’t add AI to a legacy offering. Our platform is centered on proprietary data and AI models to underwrite each property individually, with competitive and fair pricing and terms. This funding accelerates our expansion into new states and new product lines as we move toward that goal.”
Itai Ben-Zaken, Co-Founder And CEO, Honeycomb Insurance
“Honeycomb has built something I rarely see, an insurance company that has scaled rapidly while maintaining a lean operation. That combination is exceptionally rare in insurance, and it reflects the strength of both the team and the technology. The commercial property market is massive, underserved by legacy carriers, and Honeycomb is uniquely positioned to become a category leader.”
Oren Zeev, Founding Partner, Zeev Ventures
