PriyaPatel
TLDR:
- Construction insurance tech startup Shepherd has raised $13.5 million in a Series A funding round.
- Shepherd combines insurance services with risk management software and a construction software marketplace to reduce premium costs and streamline efficiency.
- The company has signed up most of the top 20 U.S. retail insurance brokers and plans to expand its insurance lines and software offerings.
- Shepherd’s unique business model includes partnerships with construction technology firms, offering back-office management, compliance tracking, and risk management software tools.
- The funds will be used to expand the team, accelerate product development, and scale up software offerings.
Construction insurance technology startup Shepherd Labs Inc. has secured $13.5 million in a Series A funding round. The company, founded in 2022, combines insurance services with risk management software and a construction software marketplace. It has targeted the commercial construction insurance market and has signed up most of the top 20 U.S. retail insurance brokers. In addition to offering insurance, Shepherd provides back-office management, compliance tracking, and risk management software tools to policyholders at no charge. The company plans to expand its insurance lines and software offerings and will use the funding to hire more staff and accelerate product development.
