Core Insights - Stand, a homeowners insurance provider focused on climate-exposed properties, has successfully closed a $35 million Series B funding round led by Eclipse, with participation from Inspired Capital, Lowercarbon Capital, and Equal Ventures [1][2] - The company has written $1 billion in home insurance coverage in California, validating its risk-modeling approach, particularly for wildfire-prone properties [2] - The new funding will enable Stand to expand into Florida, a state facing significant challenges in homeowner policy availability due to climate risks [2][4] Industry Context - Florida has experienced $94 billion in weather-related disasters since 1980, with recent events causing over $1 trillion in combined losses, highlighting the urgent need for new insurance capacity [3][4] - The state's insurance system is under strain, with many homeowners relying on the state-run Citizens Property Insurance, which has over $200 billion in potential liability [4] - The average annual damages from U.S. weather and climate disasters have reached nearly $150 billion in recent years, prompting large insurers to withdraw from high-risk areas, leaving property owners with limited coverage options [5] Company Strategy - Stand's co-founder and CEO, Dan Preston, emphasized the need for a new insurance model that links coverage to the hardening of homes against wind storms, particularly in Florida, which is the largest catastrophe market in the U.S. [6]