Jones founders Michael Rudman and Omri Stern (company pic)
Jones, an Israeli startup AI-driven vertical software company transforming insurance verification, has secured $15 million in Series B funding led by NewSpring Capital. This round saw continued investment from Hetz Ventures, Camber Creek, Khosla Ventures, and other key investors.
The round will fuel continued growth as the company releases GenAI Agents that leverage proprietary insurance data.
GenAI Agents, short for Generative AI Agents, are a fascinating and rapidly evolving area within artificial intelligence. They represent a significant step beyond traditional AI models that primarily focus on tasks like classification or prediction. Unlike passive AI models, GenAI agents are designed to be autonomous, meaning they can act and make decisions within an environment to achieve specific goals. They leverage generative AI models (like large language models or diffusion models) to create new content, whether it’s text, images, code, or other forms of data.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
Founded by Omri Stern and Michael Rudman, Jones is an AI-driven vertical software company that helps real estate and construction clients to accelerate the collection of insurance certificates (COIs), endorsements, and policies, verify compliance with precision, and integrate bi-directionally with key ERP systems. The company has scaled to 25,039 real estate properties and construction projects across over 2.5 billion square feet in the United States. Jones is a software company that helps real estate and construction firms to remove insurance risk so they can save time, scale payroll, and avoid costly third-party insurance claims.
“COI and insurance policy verification is a highly manual and error-prone process, making it ripe for disruption through automation,” said Marc Lederman, General Partner at NewSpring Capital. “Jones AI solutions enable construction and real estate companies to scale their departments efficiently while mitigating legal and financial risks in today’s highly litigious environment. As compliance becomes more complex and regulatory demands rise, Jones has ample room for continued expansion and represents exactly the type of growth-oriented business we seek for investment.”
“The insurance markets have been reeling from economic pressures and are one of the biggest challenges facing real estate and construction, whether it’s from headwinds in origination or the lack of digitization,” said Omri Stern, CEO of Jones. “We’re excited to be part of a cohort of maturing growth-stage AI and data companies that are partnering with the insurance industry to help clients make smarter decisions about insurance risk.”
