Israeli startup Jones has raised US$15 million in a Series B funding round led by NewSpring Capital.

Existing investors, including Hetz Ventures, Camber Creek, Khosla Ventures, JLL Spark, DivcoWest Ventures, Rudin Ventures, and Ground Up Ventures, also contributed.

Founded in 2017 by Omri Stern and Michael Rudman, Jones focuses on automating insurance risk management in the real estate and construction sectors.

The recent funding round increases the company’s total funding to $40 million.

It plans to use this capital to improve a traditionally manual compliance process regarding insurance requirements from suppliers and subcontractors.