Stand Raises $35 Million Series B, Expands Into Florida to Insure the Nation's Most At-Risk Homes
- With $1 billion in insured value, Stand brings mitigation-first coverage to the largest catastrophe market in the U.S.
SAN FRANCISCO, Oct. 16, 2025 /PRNewswire/ -- Stand, the company reimagining insurance for catastrophe-exposed properties, today announced the close of its $35 million Series B funding round. The round was led by Eclipse, alongside previous investors Inspired Capital, Lowercarbon Capital, and Equal Ventures. Since its launch just over a year ago, Stand has grown rapidly, underwriting $1 billion in insured value in its first market, wildfire-exposed California.
The new funding will support Stand's expansion into Florida, one of the largest and most volatile catastrophe markets in the United States. According to NOAA, the state has experienced 94 separate billion-dollar disasters since 1980, with the last seven events alone resulting in more than $1 trillion in losses. Citizens Property Insurance Corporation, Florida's state-run insurer of last resort, currently holds nearly $300 billion in exposure, underscoring both the scale of the market and the urgent need for sustainable private capacity.
"Insurance should play a central role in creating resilient communities," says Dan Preston, co-founder and CEO of Stand. "The scale of risk in Florida demands a new model: One that links coverage to hardening homes against wind storms. That's what Stand is building. By expanding into the largest catastrophe market in the country, we're working hard to make this a reality for the world's property owners."
Stand's approach to insurance is rooted in resilience. By linking coverage to mitigation upgrades, such as hardening homes against wind, fire, and flood, Stand helps homeowners reduce their risk while lowering costs over time. Stand's underwriting is informed by physics-based models, first applied to wildfire and now extended to wind, offering a more precise view and clear assessment of how structures withstand extreme weather events.
Damage due to weather-related catastrophes have topped $146 billion per year on average in the US over the last decade, while access to insurance coverage has diminished. Insurers are departing states worst-hit by disasters and hundreds of thousands of homeowners have been left without coverage after large insurers either cancelled policies or denied renewals.
"Over the last 10 years, U.S. weather disasters have caused over $1.4 trillion in losses — with less than half insured," said Aidan Madigan-Curtis, Eclipse partner and board director at Stand. "Rising costs and shrinking coverage are leaving American families exposed. Eclipse's $30M investment in Stand reflects our conviction that resilience is the future, giving property owners the tools to safeguard their properties and their futures."
Led by industry veterans with decades of experience across insurance, technology, and applied science, and backed by top investors and reinsurers, Stand is recognized for outstanding claims management and customer service. With operations now spanning California and Florida, Stand is scaling its mission to protect homes in the world's most catastrophe-prone regions.
Please visit standinsurance.com for additional details.
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SOURCE Stand Insurance