Stand has raised $70 million in Series C funding at a $1 billion valuation as the insurance technology company expands its approach to protecting homes in areas exposed to natural disasters. The round was led by Saga Ventures, with participation from Lowercarbon, Eclipse, Equal Ventures, Inspired Capital, Neotribe, Jackson Square Ventures, and other investors. The financing brings Stand’s total funding to $130 million.
Stand now insures more than $10 billion of property, up from $1 billion a year ago. The company is focused on combining property resilience measures with insurance underwriting to help homeowners reduce physical risk and potentially lower insurance costs over time.
At the center of Stand’s platform is its World Model, which creates a digital representation of individual homes and simulates how they may perform under events such as wildfires, windstorms, and other disasters. The model considers a property’s construction, surroundings, and weather exposure to identify vulnerabilities and recommend improvements intended to reduce risk.
Stand then works with homeowners to implement those improvements, including connecting them with service providers and confirming completed work. The company said resilient homes can qualify for insurance discounts of up to 70%, reflecting the lower modeled risk associated with certain improvements.
Stand underwrites and services policies issued by Concert Specialty Insurance Company in California and Stand Insurance Exchange in Florida. Its reinsurance partners include Arch, RenaissanceRe, Hannover, Nephila, and Hiscox.
Alongside the financing, Stand announced two senior leadership appointments. Drew Saad has joined as President of Property & Casualty after previously serving as Chief Underwriting Officer at PURE Insurance. Tony Landi has joined as Chief Financial Officer after serving as Head of Strategic Growth at Nephila. Landi previously held senior reinsurance and capital management positions at Openly and Everest Re.
Saad will help scale Stand’s property and casualty insurance operations, while Landi will oversee finance, reinsurance, capital markets, and growth strategy as the company expands.
Stand’s longer-term strategy is to make resilience a more direct component of property insurance pricing by using physical modeling to assess how individual properties may perform during catastrophic events rather than relying exclusively on historical loss patterns.
KEY QUOTES:
“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.”
Dan Preston, Co-Founder And CEO Of Stand
“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.”
Drew Saad, President Of Property & Casualty At Stand
“What drew me to Stand is the depth of the team, with real experts in physics, underwriting, and product working on the same problem. My job is to make sure that as Stand grows, the capital is there to support it, from our investors and our reinsurance partners alike. We’ll do that by building diversified, resilient portfolios and matching risk and returns to capital appetite.”
Tony Landi, Chief Financial Officer Of Stand
