Honeycomb, a Chicago-based digital insurer, has secured $36M in Series B funding.

Leading the round is Zeev Ventures, with new investors Arkin Holdings and Launchbay Capital joining existing participants Ibex Investors, Phoenix Insurance, and IT-Farm.

The funding will drive expansion into new insurance markets and accelerate the development of AI-powered solutions.

Led by CEO Itai Ben-Zakan, Honeycomb uses advanced technologies like aerial imagery and AI for real-time risk assessment and underwriting. The company currently operates in 16 states, insuring over $21 billion in real estate assets.

Plans include leveraging proprietary AI models and expanding Honeycomb's insurance offerings, aiming to become a comprehensive provider in the commercial real estate insurance sector. Ben-Zakan commented on the strategic direction and technological advancements coming up for the company.