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Shepherd

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Shepherd

Shepherd is a technology-driven insurance company focused on the commercial insurance space.

shepherdinsurance.com
Insurance

Company research

Public company, workplace, funding, and market signals

Updated Jul 29, 2026

Overview

Shepherd is a San Francisco-based AI-native commercial insurance company / managing general underwriter for builders and operators in construction, infrastructure, and renewable energy. It combines underwriting expertise with data and AI to price and service Primary Casualty, Excess Casualty, and Builder’s Risk faster than traditional carriers.

Primary product

Commercial insurance for construction and infrastructure: Primary Casualty, Excess Casualty, and Builder’s Risk

Founded

2021

Headquarters

415 Mission Street, 37th Floor, San Francisco, CA 94111

Team size

60-70

Work style

Flexible

Industry

Insurance

Sub-industry

Commercial insurance / insurtech / managing general underwriter

Offices

San Francisco, CA (HQ)
New York City, NY
Offices nationwide (five offices total reported publicly)

Business model

B2B commercial insurance
Managing general underwriter (MGU)
Software-enabled underwriting platform

Funding

Stage

Series B

Total raised

$67M

Latest round

Series B · Mar 2026

Latest amount

$42M

Series B

Mar 2026 · Intact Private Capital

$42M

Series A

Feb 2024 · Costanoa Ventures

$13.5M

Seed

Sep 2021 · Spark Capital

$6.2M

Pre-seed

Feb 2021 · Susa Ventures

People & investors

Leadership

Justin Levine

Co-Founder & CEO

Mo Mahallawy

Co-Founder & CTO

Costas Hadjipateras

Head of Underwriting

Julian Clarke

Head of Marketing

Carl Feldhaus

Head of Property & Program Management

Lindsay Plotkin

Director of Underwriting / Underwriting Lead

Founders

Steve Buonpane

Co-Founder and Chief Insurance Officer

Investors

Costanoa Ventures
Era Ventures
Greenlight Re
Intact Private Capital
Intact Ventures
Oldslip
Procore
Procore Technologies
Spark Capital
Susa Ventures
Y Combinator

Work & culture

Mission-driven, in-person-first, and highly collaborative. Shepherd emphasizes urgency, cross-functional teamwork between engineers and underwriters, intellectual challenge, and building a modern risk platform for complex commercial industries.

Work style

Flexible

Compensation

No public salary bands found. Public compensation signals are mostly benefits-oriented: top-tier fully covered healthcare, unlimited PTO, meals, coaching/development, and a 401(k) plan.

Benefits

100% contribution to top-tier health, dental, and vision
Unlimited PTO / flexibility to take time off
Daily lunches, dinners, and snacks
Premium coaching and leadership development
Competitive 401(k)
Fertility benefits and family-building support
Employee assistance program
Flexible work schedule

Product & market

Pricing

B2B commercial insurance priced through AI-assisted underwriting and carrier partnerships; qualifies customers for credits/discounts via Shepherd Savings based on risk-mitigation technology and project data.

Differentiators

  • —AI-native underwriting that turns emailed submissions into structured data quickly
  • —Real-time integrations with construction-tech data sources
  • —Fast indications in minutes to hours instead of weeks
  • —Shepherd Savings rewards safer building behaviors with premium credits
  • —Structured underwriting data moat built over four years
  • —Carrier partnership/capacity from Intact Private Capital
  • —Unified product suite across casualty and builder’s risk

Technology

Procore
Autodesk
OpenSpace
DroneDeploy
Samsara
Salesforce
GitHub
GitLab
Google Cloud
Databricks
Snowflake
PostgreSQL
React
Python
TypeScript
GraphQL
Terraform
Kubernetes
Docker
Datadog

Customers

Middle-market to enterprise commercial builders and operators
Commercial contractors
Asset owners
Leading AI labs
Chip manufacturers
Hyperscalers
General contractors
Specialty builders
Energy developers
Retail brokers

Competitors

Liberty Mutual Insurance
The Hartford
Chubb
Zurich North America
US Assure
Procore Risk Advisors
Core Specialty
Foresight Risk & Insurance Services
Ledgebrook

Scale & contact

Estimated revenue

About USD 1M-10M (public profile estimate; company-reported annual revenue around USD 2.1M appears in recent profile data)

marketing@shepherdinsurance.com617-780-1127

Latest news

DroneDeploy and Shepherd launch data-backed premium savings for safer construction

DroneDeploy · Jul 2026

Shepherd and DroneDeploy launched a savings program tied to verified reality-capture usage; the study reported 44% fewer claims and 48% lower loss rates for DroneDeploy users, with up to 25% premium savings on qualifying Shepherd casualty products.

Shepherd and Brickeye Partner to Bring IoT Risk Intelligence Into Autonomous Underwriting

PR Newswire · Jun 2026

Announced a partnership integrating Brickeye’s BuildersRiskIQ into Shepherd’s underwriting model, extending Shepherd Savings into Builder’s Risk and emphasizing real-time physical-risk data and premium credits for safer projects.

Behind Our Series B: AI's Physical Layer, and Why We Just Raised $42M to Insure It

Shepherd blog · Mar 2026

Official company explanation of the $42M Series B, total funding reaching $67M, customer and volume metrics, AI data integrations, and the autonomous underwriting roadmap.

Shepherd Raises $42M Series B to Power the Insurance Behind AI Infrastructure Boom

PR Newswire · Mar 2026

Press release announcing the Series B led by Intact Private Capital and describing Shepherd’s commercial insurance platform, customers, and product lines.

Shepherd Launches Renewable Energy & Power

Shepherd blog · Jan 2026

Official launch of Shepherd’s Renewable Energy & Power casualty program, its first expansion beyond construction.

AboutBlogCareersCEO LinkedInContactCTO LinkedInGitHub orgHomepageLinkedIn companyProducts
SourcesHomepageAboutProductsCareersBlog indexContactSeries B blogSeries A blogRenewable Energy & Power launchBrickeye partnership PRLinkedIn company pageJustin Levine LinkedInMo Mahallawy LinkedInGitHub org

Jobs and careers at Shepherd

19 jobs at Shepherd

Growth Lead

On-site
Marketing
New York City; NYC, New York, United States
2w ago
On-site
Full-time
Apply

AI Product Manager

On-site
EPD
San Francisco; San Francisco, California, United States
1mo ago
On-site
Full-time
Apply

Staff Software Engineer (SF)

On-site
EPD
San Francisco
1mo ago
On-site
Full-time
Apply

Staff Software Engineer

On-site
EPD
New York City
1mo ago
On-site
Full-time
Apply

Revenue Operations

On-site
Operations
San Francisco
2mo ago
On-site
Full-time
Apply

Actuarial Data Science Lead

On-site
Actuarial
San Francisco
2mo ago
On-site
Full-time
Apply

Senior Energy Underwriter

On-site
Underwriting
San Francisco
3mo ago
On-site
Full-time
Apply

Senior Builders Risk/Inland Marine Underwriter

On-site
Underwriting
San Francisco
3mo ago
On-site
Full-time
Apply

GTM Engineer

On-site
Marketing
New York City
3mo ago
On-site
Full-time
Apply

Brand and Experiences

On-site
Marketing
New York City
3mo ago
On-site
Full-time
Apply

Marketing Engineer, Brokerage Growth

On-site
Marketing
New York City
4mo ago
On-site
Full-time
Apply

Founding Machine Learning Engineer

On-site
EPD
San Francisco
5mo ago
On-site
Full-time
Apply

Software Engineer, Applied AI

On-site
EPD
San Francisco
6mo ago
On-site
Full-time
Apply

Business Development

On-site
Underwriting
New York City
1y ago
On-site
Full-time
Apply

Executive Underwriter

On-site
Underwriting
New York City
1y ago
On-site
Full-time
Apply

Senior Underwriter

On-site
Underwriting
New York City
1y ago
On-site
Full-time
Apply

Software Engineer, AI Product + Agents

On-site
EPD
San Francisco
1y ago
On-site
Full-time
Apply

Software Engineer, Full Stack

On-site
EPD
San Francisco
1y ago
On-site
Full-time
Apply

Software Engineer, Backend

On-site
EPD
San Francisco
1y ago
On-site
Full-time
Apply

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