Honeycomb Insurance Raises $40 Million, Bringing Total Funding to $95 Million

Honeycomb Insurance raised a $40 million funding round led by Zeev Ventures. Ibex Investors, Peakline, Alpha Partners, Meitar Partners, Practical VC, and former 49ers player and NFL Super Bowl champion Harris Barton joined the round. The raise brings the company’s total funding to $95 million.

CEO Itai Ben-Zaken said the figure is deliberately modest. The company ended 2025 with $275 million in gross written premium and covered more than $100 billion in total insured value across 22 states. It is already profitable.

“We are cash flow positive,” Ben-Zaken said. ” Honeycomb’s automated underwriting engine ingests hundreds of data points per property, including geospatial datasets, aerial imagery, and building history. The platform prices each risk individually without a physical inspection.

This allows the company to offer coverage up to 40% cheaper for well-maintained buildings. Its customers are landlords, condo associations, and HOA boards managing multi-unit residential housing. About 30% of Americans live in apartment buildings or condos.

U.S. multifamily insurance segment alone is worth over $34 billion a year. Ben-Zaken, a Wharton MBA and Israeli military intelligence veteran, cofounded Honeycomb in 2019 alongside CTO Nimrod Sadot.

His first startup, Comprendi, went under after competing against Google and Meta. He said the experience led him to seek a large, fragmented market where legacy players were competent but technologically vulnerable. Commercial property premiums climbed for six years and peaked near 20% annual increases in 2023.

7% in 2025. Ben-Zaken said the company’s advantage is speed rather than price alone. “The fact that an agent can sell five policies from Honeycomb in the same time as one policy elsewhere—that’s still an advantage,” he said.

8 billion valuation on around $400 million in gross written premiums. “On the GWP side, we’re not very far from them,” Ben-Zaken said. “We’ll cross $500 million in the next couple of years.