Honeycomb Insurance Secures $40 Million to Expand Commercial Real Estate Coverage
Honeycomb Insurance, a digital insurer serving apartment buildings and condominium associations, raised $40 million in a funding round led by Zeev Ventures. The company now has $95 million in total funding.
Zeev Ventures was joined by existing investor Ibex Investors and new backers Peakline, Alpha Partners, Meitar Partners, Practical VC, and former San Francisco 49ers player Harris Barton.
Expansion Plans
Honeycomb plans to use the capital to enter additional states, improve its agent-facing technology, expand its product offerings, and continue building its proprietary AI-powered underwriting system.
The company exited 2025 with $275 million in gross written premium and operates across more than 20 states. It provides admitted and non-admitted insurance products in 22 states, covering more than 65% of the U.S. population.
How the Underwriting Model Works
Honeycomb's platform analyzes hundreds of data points for each property, including geospatial information, environmental data, building characteristics, historical performance metrics, and high-resolution imagery.
This granular approach differs from traditional insurers that rely on manual underwriting and broad risk categories. The company said its method allows it to cover well-maintained properties that conventional carriers might overlook.
The platform manages more than $100 billion in insured assets and eliminates the need for physical property inspections during underwriting.
The Company
Honeycomb is headquartered in Chicago with offices in the United States and Israel. It was founded by insurance and real estate industry veterans.
CEO Itai Ben-Zaken said the funding accelerates expansion into new states and product lines. "Our platform is centered on proprietary data and AI models to underwrite each property individually, with competitive and fair pricing and terms," he said.
For professionals in insurance, understanding AI for Insurance and AI for Real Estate & Construction has become essential as underwriting processes shift from manual review to data-driven assessment.
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