Shepherd, an AI-driven commercial insurance platform focused on construction and infrastructure projects, announced a $42 million Series B led by Intact Private Capital, with participation from Spark Capital, Costanoa Ventures and others, bringing total funding to $67 million.
AI Infrastructure Boom Drives Insurance Transformation
Rapid growth in data centers, semiconductor facilities and renewable energy projects has increased demand for faster and more precise construction insurance. Traditional underwriting processes remain slow and fragmented, creating delays in insuring large-scale infrastructure developments. Shepherd addresses this gap with AI-powered underwriting designed for complex, high-value construction projects.
AI-Powered Underwriting Platform
The platform processes submission data, organizes documentation and integrates real-time project information from construction tools to generate pricing indications within minutes. Over the past 24 months, Shepherd issued more than 1,500 policies covering over $400 billion in insured value, supporting contractors and infrastructure developers involved in AI and energy projects.
Expansion and Product Development
New funding will support product expansion, including renewable energy casualty coverage, Builder’s Risk and Workers’ Compensation, alongside scaling underwriting capacity and advancing autonomous underwriting capabilities powered by AI.