Participated · Series A · Jul 2021

Founded in 2017 and based in New York, Jones curates a marketplace of pre-approved vendors for commercial real estate tenants and property managers and operates a SaaS platform that manages certifications and approvals. Its technology can process an insurance certificate in less than an hour, reduce vendor approval time from 12 days to 2.5 days, and achieve 99.9% accuracy versus roughly 30% for manual workflows. Jones already works with tens of thousands of vendors and said its SaaS tool has gained traction over the past 10 months. The company raised $12.5 million in a Series A led by JLL Spark and Khosla Ventures, bringing total capital raised to $20 million. It plans to use the funds for product development to enable quicker and easier approvals, to onboard more vendors, to build integrations and an API for other verticals requiring compliance, and to expand the team. Jones is recruiting hires with fintech, cybersecurity and insurtech backgrounds to broaden its capabilities. Jones provides real estate owners, managers, and builders with Software-as-a-Service tools and a pay-as-you-go insurance solution to manage contractor insurance and compliance. Its platform lets trade contractors obtain a certificate of insurance (COI) via smartphone and get it approved by enterprises within minutes. For trades that already have insurance, Jones automates the insurance compliance cycle to streamline approvals between enterprises and agents. The company is currently in beta with several large construction and real estate players, including ARCO Construction and JLL. Jones is licensed in 12 states and plans to expand to 30 states by the end of 2018. The company plans to use its new funding to launch a flexible-duration General Liability policy this fall in partnership with Chubb and marquee distribution partners in the construction and real estate industries.