Stand raises $70 million at a $1 billion valuation to price wildfire risk house by house

Fortune reports Stand raised $70 million in a Series C at a $1 billion valuation. Stand says it uses digital twins to simulate wildfire and hurricane damage home by home and suggest risk-reducing changes. Its chief science officer says that, in a backtest involving roughly 310 California homes, the model predicted whether homes burned or survived about 85% of the time, versus 50–55% for incumbent models. Fortune could not independently verify the results.