Shepherd Secures $42M Series B to Accelerate AI-Driven Commercial Underwriting

New updates have been reported about Shepherd.

Shepherd has raised $42 million in Series B funding led by Intact Private Capital, bringing total capital to $67 million and reinforcing its position as an AI-native underwriter for construction, infrastructure, and energy projects that underpin the AI economy. Over the past 24 months, the company has increased revenue more than sevenfold while insuring over $400 billion in project value across more than 1,500 policies for more than 600 customers, including leading AI labs, chipmakers, hyperscalers, and energy developers.

The company’s platform uses proprietary AI to compress underwriting timelines from weeks to hours and integrates real-time jobsite data from partners such as Procore, Autodesk, OpenSpace, DroneDeploy, and Samsara to deliver behavior-based pricing through its Shepherd Savings program. Shepherd operates as a managing general underwriter, has recently expanded into Builder’s Risk and renewable energy and power lines, and is pursuing supervised autonomous underwriting within two years, targeting a 10x increase in underwriter capacity while Intact deepens its role as both lead investor and capacity provider for future growth.