Stand Raises $70 Million In Series C Funding From Saga Ventures At $1 Billion Valuation

Stand, a property insurance company focused on protecting homes against natural disasters, raised $70 million in Series C funding at a $1 billion valuation, bringing its total funding to $130 million. The round was led by Saga Ventures, with participation from Lowercarbon, Eclipse, Equal Ventures, Inspired Capital, Neotribe and Jackson Square Ventures, among others. Co-founder and CEO Dan Preston said the company uses home simulations and resilience improvements to reduce disaster risk and lower insurance costs. Stand’s total insured property value has grown tenfold to $10 billion in the past year, and the company appointed former PURE Insurance Chief Underwriting Officer Drew Saad as president of Property & Casualty and former Nephila executive Tony Landi as CFO.

FOUNDERS: Dan Preston, Jason Mueller, Sam Shank & Bill Clerico

INVESTORS: Saga Ventures, Lowercarbon, Eclipse, Equal Ventures, Inspired Capital, Neotribe & Jackson Square Ventures

ROUND: Series C AMOUNT: $70,000,000 VALUATION: $1,000,000,000

HQ: San Francisco, California

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