Honeycomb raises funding to expand insurance platform

By Milan Rojan

US-based Insurtech Honeycomb Insurance has secured $40 million in a funding round led by Zeev Ventures, taking its total funding to $95 million as it looks to expand its commercial real estate insurance business and enhance its AI-powered underwriting capabilities.

Existing investor Ibex Investors participated in the round alongside new investors Peakline, Alpha Partners, Meitar Partners, Practical VC and former NFL player Harris Barton. Honeycomb said the fresh capital would support geographic expansion, the development of agent-facing tools, broader product offerings and continued investment in its proprietary AI-driven underwriting platform.

Itai Ben-Zaken, co-founder and CEO of Honeycomb Insurance, said, “We are building Honeycomb to be the category leader in commercial real estate insurance.” He added that the funding would accelerate the company’s expansion into new states and product lines.

The company, which has provided insurance for apartment buildings and condominium associations, said it had generated gross written premium of $275 million exiting 2025. It has also expanded into additional US states, broadening its product portfolio and increasing the total insured value across its platform.

Honeycomb’s platform has been using AI models, geospatial data, property information and imagery to assess risks at an individual building level. The company said this approach enabled more granular underwriting and pricing decisions compared with traditional insurance models.

Oren Zeev, Founding Partner at Zeev Ventures, said, “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.”

Founded in 2019, Honeycomb currently operates across 22 US states and manages more than $100 billion in insured assets. The firm focuses on commercial real estate risks that are often underserved by traditional insurers.