Stand Raises $70M for Physics-Based Climate Insurance

Stand has raised $70 million at a $1 billion valuation to expand home insurance built around property-level climate-risk modelling.

What happened

The Series C was led by Saga Ventures with participation from Lowercarbon, Eclipse, Equal Ventures, Inspired Capital, Neotribe and Jackson Square Ventures. Stand builds digital twins of individual properties and uses physics-based models to estimate wildfire and hurricane risk instead of relying mainly on historical loss data and broad geographic averages. The company says it now insures more than $10 billion of property, up from $1 billion a year earlier. It also reports that a retrospective test across roughly 310 California homes exposed to wildfires correctly predicted whether properties burned or survived about 85% of the time. That performance figure was produced by Stand and has not been independently validated.

Why it matters

Climate change is making historical averages less reliable in some insurance markets. Property-level simulation could improve underwriting and help homeowners understand which physical changes might reduce risk. That creates a product that sits between insurance, modelling and climate adaptation.

The bigger picture

Insurers increasingly need forward-looking risk tools as wildfire, flood and storm exposure changes faster than old datasets capture. Stand's long-term credibility will depend on whether its models remain predictive across geographies and whether loss performance supports the pricing assumptions built into its policies.