Image: Jones R&D Team Photo Credit: Eyal Toueg
Jones, a startup offering an AI-driven insurance risk management system for the real estate and construction sectors, has completed a $15 million Series B funding round led by NewSpring Capital. The round also saw participation from existing investors: Hetz Ventures, JLL Spark, Camber Creek, Khosla Ventures, DivcoWest Ventures, Rubin Ventures, and GroundUp Ventures. To date, Jones has raised a total of approximately $40 million since its founding.
Jones was established in 2017 by Omri Stern, a Harvard Business School graduate, and Michael Rudman, a graduate of Israel’s Talpiot program. The company’s platform provides real estate firms with full automation for assessing the insurance risks posed by suppliers and subcontractors. Building managers and real estate companies in the U.S. face complex challenges in risk management, requiring contractors and suppliers to submit insurance certificates before they can begin work. This cumbersome manual process leads to inefficiencies, wasted time, and increased costs. Jones’ platform leverages AI and data technologies to automate the entire process. Its AI agents allow property managers and real estate firms to approve contractors and gain a comprehensive risk overview with just a click, significantly streamlining operations and reducing administrative costs and claims expenses.
Michael Rudman, Co-founder and CTO, who leads Jones’ R&D center in Tel Aviv, remarked: “In the traditionally conservative real estate sector, Jones is spearheading a revolution with an AI system that transforms risk management. Today, building managers spend valuable time collecting and verifying insurance certificates and licenses from subcontractors. Our AI agents enable them to fully outsource this process. Instead of spending hours on paperwork, they can ensure that all subcontractors meet insurance and risk management requirements with a single click.”
Mark Lederman, Partner at NewSpring Capital, added: “Jones’ solutions allow real estate and construction companies to operate more efficiently, mitigate legal risks, and comply with increasingly complex regulatory requirements. The growth potential in this sector is immense.”
