Jones Secures $15 Million to Revolutionize Insurance Verification
January 8, 2025, 3:33 pm
In the bustling heart of New York City, a quiet revolution is brewing in the world of insurance verification. Jones, a vertical software company, has just raised $15 million in Series B funding. This fresh capital, led by NewSpring Capital, will fuel the company’s ambitious plans to enhance its AI-driven platform for real estate and construction sectors.
Founded in 2017 by Omri Stern and Michael Rudman, Jones has evolved from offering pay-as-you-go liability insurance to becoming a key player in the insurance verification landscape. The company’s software is designed to streamline the collection of Certificates of Insurance (COIs), endorsements, and policies. It helps clients verify compliance with pinpoint accuracy and integrates seamlessly with essential ERP systems.
With this latest funding round, Jones has now amassed a total of $38.45 million. The participation of notable investors like Hetz Ventures, Camber Creek, Khosla Ventures, and others underscores the growing confidence in Jones’s vision. The company has already made significant strides, managing insurance verification for over 25,000 real estate properties and construction projects across more than 2.5 billion square feet in the United States.
The construction and real estate industries are notorious for their complexity. Navigating the maze of insurance requirements can feel like walking through a dense fog. Jones aims to cut through that fog with its innovative solutions. By leveraging proprietary insurance data, the company plans to roll out GenAI Agents that will further enhance its capabilities. These agents will not only automate processes but also provide insights that can help clients make informed decisions.
Insurance verification is often seen as a tedious task, akin to sorting through a mountain of paperwork. Jones transforms this process into a streamlined operation. Clients like Kier Construction in Utah have already benefited from the platform’s COI management features. By automating the verification process, Jones allows construction firms to focus on what they do best—building.
The integration of Jones’s COI verification capabilities into platforms like CMiC’s ERP system is a game-changer. It enhances subcontractor insurance compliance, reducing the risk of costly third-party claims. In an industry where every dollar counts, this kind of efficiency is invaluable.
The company’s growth trajectory is impressive. With a team of around 170 employees, Jones is poised to expand its reach even further. The funding will not only support product development but also enhance marketing efforts to attract new clients. The goal is clear: to become the go-to solution for insurance verification in the construction and real estate sectors.
As the construction industry continues to rebound post-pandemic, the demand for reliable insurance verification solutions is on the rise. Companies are increasingly recognizing the importance of compliance and risk management. Jones is stepping into this demand with open arms, ready to provide the tools necessary for success.
The future looks bright for Jones. The company’s commitment to innovation and customer satisfaction sets it apart in a crowded market. As it rolls out new features and expands its capabilities, clients can expect a platform that not only meets their needs but anticipates them.
In a world where technology is reshaping industries, Jones stands at the forefront of change. The infusion of $15 million in Series B funding is not just a financial boost; it’s a signal of confidence from investors who believe in the company’s mission. With each passing day, Jones is proving that insurance verification doesn’t have to be a burden. Instead, it can be a streamlined, efficient process that empowers businesses to thrive.
In conclusion, Jones is more than just a software company; it’s a catalyst for change in the insurance verification landscape. With its innovative approach and robust funding, the company is set to redefine how real estate and construction firms manage their insurance needs. As it continues to grow and evolve, one thing is clear: Jones is a name to watch in the coming years. The fog of insurance verification is lifting, and Jones is leading the way.
Founded in 2017 by Omri Stern and Michael Rudman, Jones has evolved from offering pay-as-you-go liability insurance to becoming a key player in the insurance verification landscape. The company’s software is designed to streamline the collection of Certificates of Insurance (COIs), endorsements, and policies. It helps clients verify compliance with pinpoint accuracy and integrates seamlessly with essential ERP systems.
With this latest funding round, Jones has now amassed a total of $38.45 million. The participation of notable investors like Hetz Ventures, Camber Creek, Khosla Ventures, and others underscores the growing confidence in Jones’s vision. The company has already made significant strides, managing insurance verification for over 25,000 real estate properties and construction projects across more than 2.5 billion square feet in the United States.
The construction and real estate industries are notorious for their complexity. Navigating the maze of insurance requirements can feel like walking through a dense fog. Jones aims to cut through that fog with its innovative solutions. By leveraging proprietary insurance data, the company plans to roll out GenAI Agents that will further enhance its capabilities. These agents will not only automate processes but also provide insights that can help clients make informed decisions.
Insurance verification is often seen as a tedious task, akin to sorting through a mountain of paperwork. Jones transforms this process into a streamlined operation. Clients like Kier Construction in Utah have already benefited from the platform’s COI management features. By automating the verification process, Jones allows construction firms to focus on what they do best—building.
The integration of Jones’s COI verification capabilities into platforms like CMiC’s ERP system is a game-changer. It enhances subcontractor insurance compliance, reducing the risk of costly third-party claims. In an industry where every dollar counts, this kind of efficiency is invaluable.
The company’s growth trajectory is impressive. With a team of around 170 employees, Jones is poised to expand its reach even further. The funding will not only support product development but also enhance marketing efforts to attract new clients. The goal is clear: to become the go-to solution for insurance verification in the construction and real estate sectors.
As the construction industry continues to rebound post-pandemic, the demand for reliable insurance verification solutions is on the rise. Companies are increasingly recognizing the importance of compliance and risk management. Jones is stepping into this demand with open arms, ready to provide the tools necessary for success.
The future looks bright for Jones. The company’s commitment to innovation and customer satisfaction sets it apart in a crowded market. As it rolls out new features and expands its capabilities, clients can expect a platform that not only meets their needs but anticipates them.
In a world where technology is reshaping industries, Jones stands at the forefront of change. The infusion of $15 million in Series B funding is not just a financial boost; it’s a signal of confidence from investors who believe in the company’s mission. With each passing day, Jones is proving that insurance verification doesn’t have to be a burden. Instead, it can be a streamlined, efficient process that empowers businesses to thrive.
In conclusion, Jones is more than just a software company; it’s a catalyst for change in the insurance verification landscape. With its innovative approach and robust funding, the company is set to redefine how real estate and construction firms manage their insurance needs. As it continues to grow and evolve, one thing is clear: Jones is a name to watch in the coming years. The fog of insurance verification is lifting, and Jones is leading the way.