Honeycomb Insurance Raises $40 Million to Expand Property Insurance Platform
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Chicago-based Honeycomb Insurance, a digital property and casualty insurance provider focused on apartment buildings and condominium associations, has raised $40 million in a new funding round.
The investment was led by Zeev Ventures. Existing investor Ibex Investors also participated, alongside new backers Peakline, Alpha Partners, Meitar Partners, Practical VC, and former San Francisco 49ers player Harris Barton.
With this round, Honeycomb Insurance's total funding has reached $95 million.
Plans for Expansion and Product Development
The company said it will use the new capital to expand its geographic presence across the United States. In addition, it plans to strengthen tools designed for insurance agents, introduce new insurance products, and further develop its artificial intelligence-powered underwriting platform.
Focus on Digital Property Insurance
Honeycomb Insurance provides digital insurance solutions for landlords, apartment owners, and condominium associations. The company uses technology-driven underwriting processes that reduce the need for traditional property inspections.
Its platform currently supports both admitted and non-admitted insurance products across 22 U.S. states. According to the company, its coverage area includes more than 65% of the U.S. population, with further expansion planned.
Company Overview
Honeycomb Insurance is led by CEO Itai Ben-Zaken. The company operates from offices in the United States and Israel and manages more than $100 billion in insured assets through its platform.
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