Stand, the InsurTech that strengthens and insures homes in regions exposed to natural catastrophes, has secured $70m in a Series C round that values the business at $1bn.

Saga Ventures led the investment, joined by backers including Lowercarbon, Eclipse, Equal Ventures, Inspired Capital, Neotribe and Jackson Square Ventures. The latest round lifts the company’s total funding to $130m. Over the past year, the value of property covered by Stand has climbed tenfold, rising from $1bn to more than $10bn.

The company is targeting a growing problem for homeowners. According to Stand, the US now experiences a weather disaster costing at least $1bn roughly every ten days. Many households are facing rising premiums, difficulty renewing policies and uncertainty over cover, even when their property itself has not changed. Stand argues this happens because insurers still set prices based on historical catastrophes, and that a physics-led approach offers a better alternative.

At the heart of the business is the Stand World Model, which builds a digital version of each home and tests how it would cope with wildfire, wind and other hazards. The model factors in how a property is built, what surrounds it and the weather conditions it is exposed to. Rather than relying on decades of loss data, the technology identifies what leaves a particular home at risk and the most cost-efficient ways to reduce that risk.

Stand then recommends upgrades designed to improve safety while keeping a home’s character intact. It supports owners throughout the process by guiding them through each stage, introducing them to trusted partners and verifying finished work on their behalf.

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