New York-based proptech company Jones has secured $15 million in a Series B funding round, aimed at enhancing its AI-driven insurance verification platform. The new funding will support the launch of GenAI Agents, designed to streamline complex insurance processes for clients by providing tailored recommendations, managing vendor communications, and identifying potential exclusions or restrictions.

Jones' founder, Omri Stern, emphasized the challenge of scaling AI in insurance due to the intricate nature of the documents involved. However, leveraging years of data collected through their platform, Jones has developed a scalable AI model combining machine learning, algorithms, and human expertise. Currently, Jones' platform serves approximately 2 billion square feet of properties and construction projects across the U.S.

The funding round was led by NewSpring, with participation from existing investors such as Hetz Ventures, JLL Spark, Camber Creek, and others. This investment marks a significant boost for the rapidly growing AI sector within the proptech industry, which garnered $3.2 billion in venture capital funding last year, highlighting the sector's increasing reliance on AI for operational efficiency and predictive analytics.