# Shepherd **Source:** https://geo.sig.ai/brands/shepherd **Vertical:** Insurance Tech **Subcategory:** General **Tier:** Emerging **Website:** withshepherd.com **Last Updated:** 2026-04-14 ## Summary YC-backed construction insurance MGA with technology-enabled underwriting for GC general liability and workers' comp; $22.3M with $13.5M Costanoa Series A achieving 5x GWP growth for construction sector insurance. ## Company Overview Shepherd Insurance is a New York-based insurance technology company providing technology-enabled commercial insurance specifically for the construction industry — writing General Liability, Commercial Auto, Workers' Compensation, and Excess Liability policies for general contractors and construction enterprises. Founded in 2021 and backed by Y Combinator with $22.3 million raised including a $13.5 million Series A led by Costanoa Ventures, Shepherd achieved five-fold growth in Gross Written Premiums year-over-year and expanded from one to four commercial insurance product lines serving the high-risk and underserved construction insurance market. Shepherd's construction insurance specialization provides underwriting advantages that general commercial insurers cannot replicate: traditional insurers underwrite construction risk using general commercial lines pricing models that don't adequately account for project-specific factors like construction type, location risk, safety protocol maturity, and subcontractor management practices. Shepherd's loss prevention platform uses technology — IoT sensors, project documentation analysis, safety training completion tracking — to assess each account's specific risk profile and offer lower premiums to contractors with data-demonstrable superior safety practices. This adverse selection in reverse attracts safety-focused contractors willing to share operational data in exchange for lower insurance costs, improving Shepherd's portfolio loss ratio relative to competitors charging market rates for all accounts equally. In 2025, Shepherd competes in the commercial construction insurance market with traditional carriers (Travelers, Hartford, Zurich) through MGA (managing general agent) structures and specialty construction insurtechs for construction insurance. The construction industry represents a $100+ billion commercial insurance market with below-average technology adoption — most contractors still purchase insurance through local brokers with annual renewal processes and limited loss prevention services. Costanoa Ventures' backing reflects enterprise technology VC conviction in construction sector digital transformation. The 2025 strategy focuses on expanding the IoT-based loss prevention platform (predictive safety scores), adding Builders Risk (project-based property coverage) as the fifth product line, and building the broker distribution network that reaches the long tail of mid-market general contractors beyond direct sales. ## Frequently Asked Questions ### What is Shepherd? Shepherd is a construction insurance technology platform founded in 2021 that modernizes insurance for the $10 trillion commercial construction industry. The company provides technology-enabled insurance solutions specifically tailored for general contractors, subcontractors, and construction companies. ### What insurance products does Shepherd offer? Shepherd offers four insurance products covering all three primary casualty lines: General Liability, Commercial Auto, Workers' Compensation, and Excess Liability. All products are designed specifically for construction enterprises. ### Who is Shepherd designed for? Shepherd serves general contractors, subcontractors, and construction companies seeking streamlined, tech-enabled insurance solutions. The platform is tailored specifically for construction enterprises operating in the commercial construction industry. ### When was Shepherd founded? Shepherd was founded on January 5, 2021. The company was part of Y Combinator's Winter 2021 (W21) cohort. ### Where is Shepherd based? Shepherd is headquartered in San Francisco, California. ### How much funding has Shepherd raised? Shepherd has raised $22.3 million in total funding. The company's most recent round was a $13.5 million Series A in February 2024, led by Costanoa Ventures with participation from Intact Ventures, Era Ventures, Greenlight Re, and Spark Capital. ### What growth has Shepherd achieved? Shepherd achieved five-fold (5x) growth in Gross Written Premiums (GWP) year-over-year in under 18 months. The company also expanded from a single Excess Liability product to four comprehensive insurance products. ### What makes Shepherd's approach unique? Shepherd uses technology to modernize and streamline insurance for the construction industry, providing tech-enabled insurance solutions. The platform is specifically designed to address the unique needs of the $10 trillion commercial construction sector. ### How can construction companies get started with Shepherd? While specific contact details are not provided in the available information, construction companies seeking insurance solutions can reach out to Shepherd for their General Liability, Commercial Auto, Workers' Compensation, or Excess Liability needs. The company is based in San Francisco, California. ### What are Shepherd's most recent developments? Shepherd's most recent milestone was closing a $13.5 million Series A funding round in February 2024. The company has expanded from one product to four products covering all primary casualty lines and achieved 5x year-over-year growth in Gross Written Premiums. ## Tags b2b, insurance, platform, saas, fintech --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*