Shepherd combines proprietary AI underwriting, real-time construction data integrations (partners include Procore, Autodesk, OpenSpace, DroneDeploy and Samsara), and industry expertise to price commercial property and casualty coverages for construction and infrastructure projects. The platform functions as a managing general underwriter (MGU), retaining underwriting authority while partnering with large carriers to deliver capacity. Shepherd offers products including general liability, commercial auto, and builder's risk, and has expanded into renewable energy and power verticals. The company has grown revenue more than 7x in the past 24 months, serves over 600 customers, has issued 1,500+ policies, and insures more than $400 billion in project value. Shepherd is pursuing a roadmap toward fully autonomous underwriting, aiming to shift underwriters from processors to portfolio orchestrators while scaling capacity and pricing precision.

Total raised

$62M

Funding rounds

3

Latest round

Series B

Latest activity

Mar 2026