Shepherd

Shepherd

MGU for large-scale commercial risks

Overview

Shepherd provides insurance for high-hazard commercial risks by pairing capacity with risk-management software and a curated app marketplace. Its platform enables underwriters to make decisions in hours, not weeks, and integrates with popular tools to streamline workflows. The product lineup includes General Liability, Commercial Auto, and Workers’ Compensation, supported by major capacity and reinsurance partners. The company pursues premium savings—up to 25%—through data partnerships and AI-powered risk reduction, plus free risk-management software for proactive clients, setting it apart from traditional MGUs with faster, data-driven risk management at scale.

YC Company

About Shepherd

Simplify's Rating
Why Shepherd is rated
B
Rated B on Competitive Edge
Rated A on Growth Potential
Rated C on Differentiation

Industries

Data & Analytics

Enterprise Software

AI & Machine Learning

Financial Services

Company Size

51-200

Company Stage

Series B

Total Funding

$61.8M

Headquarters

San Francisco, California

Founded

2020

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Simplify's Take

What believers are saying

  • Shepherd ranked No. 139 on the 2026 Inc. 5000 with 2,234% three-year growth.
  • The March 2026 Series B lifted total funding to $67 million and extended runway.
  • DroneDeploy and Brickeye partnerships widen verified-data credits, strengthening conversion among large contractors.

What critics are saying

  • Shepherd depends on Intact and carrier partners; capacity withdrawal freezes growth immediately.
  • Construction and energy underwriting concentrates loss volatility; one catastrophe season can wreck loss ratios by 2027.
  • Foresight, At-Bay, and incumbent brokers attack the same tech-enabled commercial risk buyers.

What makes Shepherd unique

  • Shepherd underwrites construction and energy risk up to 15 times faster, using live jobsite data.
  • Intact Private Capital backed Shepherd’s March 2026 Series B, while also supplying carrier capacity.
  • Shepherd bundles insurance with risk software, app integrations, and premium credits for safer tools.

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Funding

Total Funding

$61.8M

Meets

Industry Average

Funded Over

4 Rounds

Notable Investors:
Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Above Average

Industry standards

$35M
$42M
Shepherd
$45M
Linktree
$65M
Substack
$100M
ClickUp

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Unlimited Paid Time Off

401(k) Retirement Plan

Professional Development Budget

Growth & Insights and Company News

Headcount

6 month growth

2%

1 year growth

-1%

2 year growth

5%
PR Newswire
Aug 11th, 2026
Shepherd ranks No. 139 on Inc. 5000 with 2,234% growth insuring AI infrastructure build-out

Shepherd, an AI-native commercial insurance platform, has ranked No. 139 on the 2026 Inc. 5000 list with 2,234% three-year revenue growth. The company placed in the top 3% of America's fastest-growing private companies. Shepherd underwrites risk in commercial construction and renewable energy, serving clients building AI infrastructure, data centres, and power plants. The platform prices commercial risk up to 15 times faster than traditional carriers by integrating real-time data from construction technology systems. The company insures 10 of the top 10 US contractors and 21 of the top 25, covering over $500 billion in total project value. Shepherd has raised $67 million in total funding, including a $42 million Series B led by Intact Private Capital earlier in 2026.

PR Newswire
Jun 25th, 2026
Shepherd partners with Brickeye to reward safer construction sites with better Builder's Risk insurance terms

Shepherd, an AI-native commercial insurance platform, has partnered with Brickeye, an IoT-enabled construction risk intelligence platform, to integrate real-time jobsite data into Builder's Risk underwriting. The partnership allows builders using Brickeye's loss-prevention technology to receive better insurance terms, premium credits or lower deductibles. Brickeye monitors construction sites across 4,500 projects in over 20 countries, preventing water damage and concrete quality issues through IoT sensors. The company has grown revenue 150% year-over-year and helped clients reduce water loss deductibles by up to 50%. Brickeye's verified protection data feeds directly into Shepherd's AI underwriting model, which has issued 1,500 policies covering over $400 billion in insured project value and grown revenue sevenfold in 24 months. The partnership initially covers US Builder's Risk for vertical construction.

PR Newswire
Mar 24th, 2026
Shepherd Raises $42M Series B to Power the Insurance Behind AI Infrastructure Boom

/PRNewswire/ -- Shepherd, the AI-native commercial insurance platform, today announced a $42 million Series B round led by Intact Private Capital, with...

Axios
Mar 24th, 2026
Shepherd raises $42M for AI-powered construction insurance underwriting

Shepherd, a startup that underwrites construction insurance using data from project management software, has raised $42 million in Series B funding, CEO Justin Levine told Axios exclusively. The company is capitalising on increased infrastructure spending linked to AI development, which is creating new demand for faster underwriting as builders rush to bring new capacity online.

Benzinga
Feb 7th, 2024
Shepherd Raises $13.5 Million In Series A Funding To Help Insure The $10 Trillion Commercial Construction Industry

Loading. Loading...SAN FRANCISCO, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Shepherd , an insurance tech platform for commercial construction, announced today it raised a $13.5 million Series A funding round led by Costanoa Ventures with participation from Intact Ventures, Era Ventures, Greenlight Re and Spark Capital. Shepherd combines insurance together with software to help contractors save on premiums. The company will utilize the funds to expand its underwriting and software team, accelerate product development and scale its software offerings."There is an urgent need for innovation in the commercial construction insurance industry," said Justin Levine, CEO of Shepherd. "Our mission at Shepherd is ambitious but simple: to create the first comprehensive platform that combines top-tier insurance offerings with world-class software to help commercial businesses manage risk and prevent losses."Shepherd combines insurance capacity with fast underwriting, risk management software and a construction software marketplace to streamline tedious processes and workflows

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