Honeycomb Insurance, a Chicago-headquartered digital insurer specialising in apartment buildings and condo associations, has closed a $40m funding round, bringing its total capital raised to $95m.
The round was led by Zeev Ventures, with existing backer Ibex Investors also participating alongside new investors Peakline, Alpha Partners, Meitar Partners, Practical VC, and former San Francisco 49ers NFL champion Harris Barton.
The fresh capital will be directed towards broadening geographical coverage, upgrading agent-facing tools, expanding the company’s product range, and further developing its proprietary AI-driven underwriting platform.
Honeycomb generated gross written premium (GWP) of $275m as it exited 2025, expanded its state-by-state footprint, widened its product portfolio, and grew total insured value (TIV) across its platform.
The company currently operates across more than 20 states and manages over $100bn in insured assets, with its platform covering more than 65% of the US population.
Rather than applying broad underwriting guidelines, Honeycomb’s platform ingests hundreds of structured and unstructured data points for each individual property, drawing on geospatial and environmental data, building characteristics, and historical performance — alongside proprietary AI models and high-resolution imagery. This granular approach allows the company to price risk at a building level, offering competitive coverage for well-maintained properties that conventional carriers frequently pass over, regardless of age.
Honeycomb is a deep-tech property and casualty InsurTech built by insurance and real estate industry veterans. Its platform removes the need for physical inspections and supports both admitted and non-admitted products.
Honeycomb Insurance co-founder and CEO Itai Ben-Zaken said, “We are building Honeycomb to be the category leader in commercial real estate insurance.
“We didn’t add AI to a legacy offering. Our platform is centered on proprietary data and AI models to underwrite each property individually, with competitive and fair pricing and terms. This funding accelerates our expansion into new states and new product lines as we move toward that goal.”
Zeev Ventures founding partner Oren Zeev said, “Honeycomb has built something I rarely see – an insurance company that has scaled rapidly while maintaining a lean operation.
“That combination is exceptionally rare in insurance, and it reflects the strength of both the team and the technology. The commercial property market is massive, underserved by legacy carriers, and Honeycomb is uniquely positioned to become a category leader.”
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