The round was led by NewSpring Capital, a growth equity firm managing $3.5 billion in capital, with participation from existing investors, including Hetz Ventures, Camber Creek, Khosla Ventures, JLL Spark, DivcoWest Ventures, Rudin Ventures, and Ground Up Ventures.
The funding will enable Jones to accelerate the release of its AI-powered Agents, smart assistants designed to automate routine tasks, reduce manual workloads, and provide autonomous decision-making. These agents leverage proprietary data, including insurance logic, risk benchmarks, and millions of verified insurance documents, to help clients mitigate risks and improve efficiency. Marc Lederman, General Partner at NewSpring Capital, emphasised the significance of the company’s solutions, stating, “COI and insurance policy verification is a highly manual and error-prone process, making it ripe for disruption through automation. 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.”
Founded by Omri Stern and Michael Rudman, Jones has already scaled its operations to cover over 25,000 real estate properties and construction projects across 2.5 billion square feet in the United States. The company’s software integrates seamlessly with key ERP systems, allowing clients to accelerate the collection of insurance certificates (COIs), verify compliance with precision, and address ballooning insurance costs.
Jones’ latest innovation, Insurance Policy Verification, is designed to tackle industry challenges by identifying exclusionary language in policies that COIs often overlook. CEO Omri Stern highlighted the growing need for digitisation and smarter decision-making in the face of rising economic pressures, saying, “The insurance markets have been reeling from economic pressures and are one of the biggest challenges facing real estate and construction. 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.”
This funding milestone underscores the confidence investors have in Jones’ ability to redefine insurance verification in an industry traditionally reliant on manual processes. By combining machine learning with human compliance expertise, Jones has created a scalable and efficient solution that addresses the complexities of insurance risk management, paving the way for continued growth and innovation.
