Shepherd raises $42 million

Commercial insurance startup Shepherd has raised $42 million in Series B funding led by Intact Private Capital, the venture arm of Intact, with continued participation from Spark Capital, Costanoa Ventures, and others. This new round brings total funding to $67 million.

Founded in 2021, the MGU initially launched to serve the construction sector and earlier this year it announced its second vertical – renewable energy.

In the last 24 months, Shepherd issued more than 1,500 policies, and covered over $400 billion in insured value. Its customer base includes more than 600 commercial contractors and asset owners.