Our Investment in Shepherd
We could not be more excited to announce our investment in Shepherd, a modern construction insurance company that leverages data from technology products to better price contractor risk.
Susa is in great company with Shepherd’s investors Spark Capital, Procore Technologies, Y Combinator, Greenlight Re Innovations, and Oldslip.
The Shepherd team, led by Justin Levine, Mo El Mahallawy, and Steve Buonpane, has achieved an incredible amount in the few short months since we first invested, and we can’t wait to watch them build the premier financial platform for the construction industry.
Innovative Approach to Construction Insurance
Susa loves to back teams with unfair advantages in their market.
This inevitability is often forged through toiling away in industries where specialization and technical expertise are rewarded but the bar is high and the competition fierce.
When we met Shepherd, we knew immediately that Justin, Mo, and Steve had the hard-won knowledge from years working in construction risk to build an enduring company.
They deeply understood the pain for brokers serving their contractor clients in today’s hard insurance market and saw the opportunity to provide better tools for these distributors to procure coverage.
Justin, Mo, and Steve not only knew how the current system fell short, but also recognized an immense opportunity in the proliferation of project management, design, and safety tools in construction that create new data streams with which to evaluate risk.
Their innovative approach to distribution and underwriting marry this cutting-edge technology with industry best practices.
The result is a paradigm shift for financial products in construction with data at its core.
The Power of Data in Modernizing Insurance
Data is proliferating across industries, but it takes a unique combination of functional specialization and technology chops to build modern systems that take advantage of this data.
Our world is changing rapidly and the construction industry must adapt to the demands of housing shortages, climate resiliency, and new workplace norms.
2020 saw the construction supply chain strained to the brink and in 2021 we’re experiencing the ripple effects of these enormous shifts.
Now, more than ever, contractors need the support of innovative financial products to make sure their businesses are secure and that they can deliver projects on time and within budget.
Conclusion
We’re thrilled to welcome Shepherd to the Susa family and we look forward to being a part of their mission to make construction a safer, more efficient, and more profitable industry.
You can read the rest of “Why we invested in” collection here:
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