Lowenstein Sandler represented Costanoa Ventures as lead investor in the $13.5 million Series A round in Shepherd, a San Francisco, CA-based provider of an insurance tech platform for commercial construction. The round included participation from Intact Ventures, Era Ventures, Greenlight Re, and Spark Capital.
Shepherd combines insurance capacity with fast underwriting, risk management software and a construction software marketplace to streamline tedious processes and workflows.
The company will utilize the funds to expand its underwriting and software team, accelerate product development and scale its software offerings.
Costanoa invests in enterprise software at Seed and Series A with a focus on applied AI, SaaS, fintech, security, devops and data infrastructure. The VC firm is a long-term partner to entrepreneurs building durable companies that leverage data to solve complex business problems.