Hippo, a InsurTech startup has raised $100M in new funding of a "Series D" round. The financing was led by Comcast Ventures along with ICONIQ Capital, Lennar Corporation, & Bond, a recently founded VC firm based in San Francisco. The lates funding brings Hippo's total funding to $209M. The company received $70M in it's previous funding of a "Series C" round on Nov 14, 2018. Hippo's other investors include Felicis Ventures, Horizons Ventures, Abstract Ventures, Zeev Ventures and others.
Hippo hits it's valuation to a billion dollar mark with it's latest funding. Making them the newest insurtech unicorn in the Bay Area. This took them four years to reach the milestone. It was in early 2015, Hippo was formed by Assaf Wand & Eyal Navon. The company uses modern technology to provide a simpler process, smarter coverage, and a completely new approach to how we care for our homes.
Hippo is shaking up the insurtech industry by using Internet-connected sensors, satellite imagery, and automation, among other technologies, to deliver better (and ideally cheaper) insurance policies to homeowners. The company eases the on-boarding process for prospective customers by autofilling answers to questionnaires using public records.
Hippo plans to use the new capital to expand its geographic footprint, “deepen” its direct-to-consumer product portfolio and partner with more companies. It's partners include lender Better.com, homebuilder Lennar and homeowner insurers, among others, along with Zillow as the data partner.