Stand

Insurtech · Climate Tech · Property Insurance

Funding

Stand raises $70M Series C at $1B valuation to re-price wildfire risk

The startup models each house like an aircraft in a wind tunnel, not a zip code on an actuarial table.

• Stand, a San Francisco home insurer, raised $70 million in Series C funding at a $1 billion valuation, led by Saga Ventures.
• Founded by former Metromile CEO Dan Preston, Stand builds a 'digital twin' of each home — the Stand World Model — to simulate wildfire and hurricane performance using physics rather than historical loss data.
• Chief science officer Matt DiStefano, an aerospace veteran of Boeing and SpaceX, compares the method to designing an airplane, factoring in building materials, surrounding trees and wind direction.
• Stand underwrites policies through Concert Specialty Insurance Company (A- AM Best) in California and Stand Insurance Exchange (A Demotech) in Florida, and offers discounts of up to 70% for homes it deems resilient.
• Stand now insures more than $10 billion of property, up from $1 billion a year earlier, growing roughly 15% a month, and the round lifts total funding to $130 million.
• The US now experiences a weather disaster costing at least $1 billion roughly every ten days, straining insurers that still price risk using backward-looking, zip-code-based statistics.
• As climate losses push traditional insurers to retreat from fire- and storm-prone markets, investors are betting that home-level, physics-based underwriting can keep coverage available and affordable where blanket risk models fail.