HOMEE, the sole AI-driven direct repair network for the Property and Casualty (P&C) insurance sector, has announced a successful Series C funding round led by W.R. Berkley Corporation. New investors include The Institutes and Sure, Inc., alongside existing backers like State Farm, Liberty Mutual, The Hartford, and Desjardins, bringing HOMEE’s total funding to over $75 million.
The fresh capital will fuel the development of HOMEE’s AI-powered Smart-Claim management platform, designed to increase efficiency and connect carriers to HOMEE’s direct repair network nationwide.
The funding news follows HOMEE’s fifth consecutive record quarter, reporting a 15% revenue rise and a 14% increase in claim assignments. In 2024, HOMEE expanded repair coverage by over 300%, now servicing over 7 million homes across 38 states and managing a 250% uptick in claim assignments since the year’s start.
Handling recent claims from hurricanes Helene and Milton, HOMEE continues to demonstrate its resilience. “Our technology allows us to assign service professionals to claims within minutes,” said Larry Nettles, head of HOMEE’s service professional network, emphasizing their capacity despite natural disaster challenges.
CEO Doug Schaedler expressed enthusiasm for the new strategic partnership, highlighting the rapid claim matching facilitated by HOMEE’s AI. In the third quarter of 2024, 90% of claims were assigned to service professionals in under three minutes, enhancing the experience for both carriers and policyholders.
