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The Venture Codex

State Farm Ventures

3 State Farm Plaza South, Bloomington, IL, 61791, United States

Overview

State Farm Ventures is a venture capital firm that invests in companies that disrupt conventional modes of operation to help each of individual live smarter and safer lives.

Total investments
24
Lead investments
6
Investments · 12mo
2
Active investors
5

Sector focus

  • Business Development
  • Financial Services
  • Venture Capital
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Investment portfolio

  • skan.ai

    Participated · Series C · Aug 2026

    Skan AI builds a continuously evolving record of how work actually happens across enterprise systems, distilling billions of observed work signals into execution logic for AI. Its platform consists of Skan AI Blueprint (discovery and prioritization of AI opportunities), Skan AI Intelligence (process benchmarking and workforce management), and Skan AI Agents (agent execution grounded in observed work). The company reports it has processed over 25 billion work signals, is trusted by a quarter of the Fortune 50 and seven of the top ten U.S. banks, and has delivered more than $500 million in cumulative customer value. Skan AI reported more than 300% year-over-year growth and average net dollar retention of 150% in the past year. The company says customers realize average operational savings of 30–40% from deployments. The business targets complex, regulated workflows in industries such as banking, insurance, and healthcare, and is based in Menlo Park, Calif.

  • Cambridge Mobile Telematics

    Participated · Equity · Mar 2026

    Cambridge Mobile Telematics operates a vertically integrated telematics platform that applies AI to driving data from smartphones, IoT devices, and connected vehicles to detect crashes, assess risk, and score driver behavior. Its DriveWell Atlas AI models and Universal Driving Score are central products used to provide real-time crash detection and personalized feedback. The company supplies technology for major programs such as State Farm’s Drive Safe & Save and has customer relationships with insurers including State Farm and Allianz. CMT reports its platform has helped prevent an estimated 100,000 crashes across 25 countries. With the new strategic funding and commercial agreements with Allianz Group entities, CMT plans to scale its global road safety platform and accelerate adoption of its scoring and AI models. The company is led by co-founder and CEO William V. Powers and is based in Cambridge, MA.

  • Lumai

    Participated · Equity · Apr 2025

    Lumai develops optical processing hardware that performs core AI arithmetic operations inside optical beams travelling through 3D space, aiming to bypass the limits of silicon GPUs and integrated photonics. Its PCIe-form-factor design uses low-cost optical components to enable cost-effective, high-performance AI inference. Lumai says its architecture can deliver roughly 50× the performance of silicon-only accelerators while using about 10% of the power consumed by conventional data-center AI hardware. The company has overcome scalability challenges in optical computing and positions itself as an enabler for next-generation large-language-model inference. Lumai secured more than $10 million in investment to support the next stage of growth. It plans to use the funds to advance product development, double headcount, and expand its US presence. Company leadership and technical founders have received external recognition, including participation in the Royal Academy of Engineering’s Shott Accelerator and inclusion on the Photonics 100 list.

  • InsureVision

    Led · Seed · Mar 2025

    InsureVision is a London-based company that specializes in AI-powered contextual driving risk assessment using enviromatics and real-time camera analysis. Led by CEO Mark Miller, the platform analyzes real-time camera footage with contextual understanding to help insurers, fleet operators, and automotive manufacturers assess vehicle risk. Its applications include improved underwriting and claims reduction for insurers, real-time risk monitoring for fleet operators, and software solutions relevant to Automatic Emergency Braking legislation for automotive OEMs and software-defined vehicles. The company says it helps ensure safer roads while reducing costs for customers. InsureVision has trials underway with insurance companies across the US and has trials scheduled for Japan. It recently raised $2.7M in Seed funding to accelerate technology development and market expansion.

  • Homee

    Participated · Series C · Oct 2024

    Homee provides an AI-driven direct repair network and a curated marketplace of service providers that connects insurers, policyholders, and skilled service providers across the lifecycle of a claim. The company’s core product includes an AI Smart-Claim management platform used by firms in the insurance sector to improve the claims experience. Homee said it will use the new funding to accelerate software development for that AI Smart-Claim platform. Financially, the company reported its fifth consecutive record quarter with revenue growth of 15% and claim assignment growth of 14% over the prior quarter. Operationally, Homee expanded nationwide repair coverage by over 300% in 2024 to cover more than 7 million homes in 38 states and has seen a 250% increase in claims assigned to its network since Q1 2024. The company is led by CEO Doug Schaedler. HOMEE is a Tampa-based technology platform that connects insurers, policyholders, and skilled service providers in the claims process. Its platform is used by leading insurance and warranty firms to handle small-to-medium losses typically under $25,000 and pairs with a network of 20,000+ registered contractors. Over the past year HOMEE experienced a dramatic increase in claims volume, contributing to record financial results for the first six months of 2021. The company plans to use new capital to enhance its technology suite and launch new markets to further service carriers and expand its service provider network across the United States. Its investor base includes insurance-affiliated institutions such as Liberty Mutual Strategic Ventures, State Farm Ventures, Hartford Investment Management Company, Desjardins, and other strategic investors. Homee offers a single software solution for property maintenance, dispatching professionals, and insurance claims processing. Its platform supports homes, condos, offices, and restaurants and the company counts some of the largest national single-family and multi-family portfolio companies as clients. Homee's solution includes FNOL, estimates, payments, proof of completion, and the ability to capture and deliver job site videos and photos to insurers. The company has moved into the insurance space with claims processing for home and home warranty claims and provides insurance products for pros via partnerships with Coterie, CoverWallet, and AP Intego. Homee was founded in 2016. The company disclosed a new $4.5 million financing following a $15 million round announced less than a year earlier. Homee operates an on-demand home services platform that lets homeowners and property managers access thousands of skilled service providers. Led by co-founder and CEO Doug Schaedler, the service supports homes, condos, offices and restaurants. Using GPS-enabled smartphone technology, providers accept new job requests in under a minute on average and arrive at job locations in about 30 minutes or less. Every service provider is background-checked, screened by the company’s operations team, and continually monitored via the app’s provider rating system. The company counts some of the largest national single-family and multi-family portfolio companies among its clients. Homee says it will use the Series B proceeds to launch new markets and expand its service provider network across the United States. Homee is an on-demand property maintenance platform that gives homeowners and property managers instant access to skilled service providers. Led by co-founder and CEO Doug Schaedler, the Tampa, Fla.-based company uses GPS-enabled smartphone technology so providers accept new requests in under a minute on average and arrive to jobs in about 30 minutes or less. Every service provider is background-checked and screened by Homee’s operations team and continuously monitored via the app’s provider rating system to maintain quality. Homee’s service covers any property type, including homes, condos, offices and restaurants. The company plans to use the Series A proceeds to launch new markets and expand its vendor network across the United States. The startup completed an $11M Series A financing.

Team

  • Kate Strubhar

    LinkedIn
  • Nikhil Patel

    Head of Ideation; Strategy and Scouting

    LinkedIn
  • Michael Remmes

    Ventures Executive

    LinkedIn
  • Corey Schieler

    Ventures Director