AI-enabled risk management platform WithCoverage has secured $42 million in Series B funding in a round led by Sequoia Capital and Khosla Ventures, with additional backing from 8VC and Crystal Venture Partners.
Founded by JD Ross, co-founder of Opendoor, and Max Brenner, WithCoverage aims to reinvent how fast-growing companies manage risk and move beyond traditional insurance brokers.
The firm explained that it pairs AI analysis with insurance and legal experts to identify exposures early, improving coverage and cutting costs.
JD Ross, Co-founder of WithCoverage, commented, “Insurance brokers have operated on the same commission model for decades—they get paid more when you pay more.
“We built WithCoverage to lead with our clients’ interests, not our own, and end that conflict of interest.”
Max Brenner, Co-founder of WithCoverage, added, “Our platform routinely saves clients over $100,000 per year on insurance, while uncovering and fixing risks that would have led to material losses.”
Roelof Botha, Partner at Sequoia Capital, said, “WithCoverage harnesses AI to augment human expertise, advancing the intersection of insurance and technology.
“The insurance brokerage industry has largely remained unchanged over the past few decades and now stands poised to benefit from advances in artificial intelligence.
“The industry also historically focused on carriers, and not the businesses seeking insurance. JD and Max have built a solution that puts the customer first.”
Keith Rabois, General Partner at Khosla Ventures, observed, “JD and I teamed up at Opendoor to take on one of the most entrenched industries in real estate. Risk management is even more outdated.
“Max and JD are applying software, AI, and proper incentive alignment to a system that has needed reinvention for decades.”
