Honeycomb Insurance, a digital insurer which focuses on apartment buildings and condominium associations, announces a $40m successful funding round led by Zeev Ventures. The company’s total funding now stands at $95m.
The funding round included participation from existing investor Ibex Investors and new investors Peakline, Alpha Partners, Meitar Partners, Practical VC, and former San Francisco 49ers champion Harris Barton.
The company is expected to use the new capital to accelerate into additional geographic markets, enhance agent-facing technology, widen its product portfolio, and continue working on its proprietary artificial intelligence (AI) powered underwriting platform.
“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 centred 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.”
Itai Ben-Zaken, Co-Founder and CEO, Honeycomb Insurance
Honeycomb has emerged as a rapidly growing company in the commercial real estate insurance sector. The company reports a gross written premium (GWP) of $27m exiting 2025, with expanded operations into additional states and broadening its insurance offerings.
The company’s underwriting model has heavily been built around proprietary AI and risk assessment technology which evaluates properties on an individual building basis.
Honeycomb analyses a large volume of structured and unstructured data points, such as geospatial information, environmental data, building characteristics, historical performance metrics, and high-resolution imagery to view risk and determine pricing.
“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.”
Oren Zeev, Founding Partner, Zeev Ventures
Contrary to many traditional insurers that rely on manual underwriting processes and broad risk categories, Honeycomb mentions its platform enables more granular risk evaluation, enabling it to provide coverage for well-maintained properties which might be overlooked by conventional carriers.
The company currently operates in over 20 states and provides admitted and non-admitted insurance products in 22 states, covering more than 65% of the US population. Honeycomb manages over $100bn in insured assets and expects to continue broadening its geographic footprint.
The company’s headquarters is situated in Chicago, with offices in the United States and Israel. Honeycomb was founded by insurance and real estate industry leaders and focuses on utilising technology to streamline underwriting and mitigate the need for physical property inspections.
