Shepherd Named to the 2026 CB Insights Insurtech 50

Today, CB Insights named Shepherd to its fifth annual Insurtech 50, showcasing the 50 most promising Insurtech startups in the world.

"The 2026 Insurtech 50 reveals the top startups shaking up the insurance industry's status quo," said Chris Sekerak, Lead Analyst at CB Insights. "The common thread across the cohort is the ability to scale differentiated businesses that are unlikely to be displaced by large AI or insurance companies."

"This recognition is a reflection of the brokers and builders who trust us with their most complex risk," said Justin Levine, CEO and Co-Founder of Shepherd. "We started Shepherd because commercial insurance was too slow and too disconnected from how contractors and energy developers actually build. Being named to the Insurtech 50 alongside a group of companies changing this industry is validating, but it's also a reminder of how much more there is to build. We're just getting started."

The list includes 27 insurers and intermediaries, and 23 tech vendors. The research team picked winning companies based on CB Insights datasets, including deal activity, industry partnerships, team strength, investor strength, executive interviews, and proprietary metrics.

Shepherd was recognized in the Insurtech 50 for its category-leading growth and innovation as the AI-native commercial insurance platform serving the builders and operators behind the AI infrastructure boom, from data center construction to renewable energy development.

Shepherd underwrites commercial risk 10 to 15 times faster than traditional carriers, with an average  submission-to-indication turnaround of 24 hours, and offers differentiated pricing by connecting directly to the construction and energy technology systems its customers already run, allowing them to reward tech-driven, high-quality builders. Since 2022 the company has grown revenue 23x. In the first half of 2026, Shepherd hasmore than doubled gross written premium run rate, now serving 630+ customers across 1,600+ policies. 

Quick facts on the 2026 Insurtech 50:

• Raised $3.0B in equity funding over time, including more than $0.8B in 2026 so far (16% of YTD Insurtech funding).
• Disclosed 70+ partnerships since 2025, including with industry leaders like ADP, Marsh, and Sun Life.
• Includes 31 early-stage startups, 14 of which are at the seed stage.
• Employs 5,400+ people, with a median headcount of 52 across the cohort.
• Ranks among the top 4% of private companies globally for overall health and growth potential.

The full 2026 Insurtech 50 report is available at cbinsights.com. Read more about Shepherd's technology- and data-powered insurance products, or read customer stories to learn more.