Jones Secures $15M in Series B Funding to Enhance Insurance Verification Platform

New York-based insurtech-proptech startup Jones has raised $15 million in a Series B funding round to advance its insurance verification platform with new artificial intelligence tools. The round was led by NewSpring, with participation from existing investors, including Hetz Ventures, JLL Spark, Camber Creek, Khosla Ventures, DivcoWest Ventures, Rudin Ventures, and Ground Up Ventures.

Since its founding, Jones has focused on helping real estate and construction companies streamline the process of removing insurance risk across properties, projects, and applications. The company’s financial journey began with a $4.6 million seed round in 2019, followed by a $12.5 million Series A in 2021. The Series B funding will allow Jones to leverage AI and automation to address evolving industry demands, building on last year's trend that saw $3.2 billion in proptech investment focused on AI, according to the Center for Real Estate Technology & Innovation.

Jones has now raised a total of $38.4 million across six funding rounds. Its insurance verification platform is currently utilized by major real estate and construction players to mitigate risk, and the latest funding will help the company expand its offerings to address the growing needs of the industry.