Branch offers bundled home and auto insurance and says it can instantly underwrite and bind policies via an API, including bundling auto and home in a single transaction. The company embeds insurance into partners' point-of-sale experiences (partners include Homepoint, OpenRoad Lending and SimpliSafe) while also selling direct-to-consumer and through agencies. Branch says its distribution model lowers customer acquisition costs and enables lower premiums for members. Since going to market in 2019 it claims to have saved members an average of $548 per year. The company reports 1,300% growth in annualized written premium over the past 12 months and has grown head count from about 75 to just over 400 since its prior raise. Branch is active in 28 states and plans to use new capital to accelerate its U.S. rollout. Branch uses technology to simplify and sell bundled home and auto insurance by quoting policies based on name and address and enabling integration into home-financing and car-buying websites. Its policies are underwritten by General Security National Insurance Company (GSNIC). The company has launched in five states: Arizona, Illinois, Missouri, Ohio, and Texas. Founded in 2018 by insurance veteran Steve Lekas and tech entrepreneur Joe Emison and based in Columbus, Ohio, Branch raised a $24M Series A. The company intends to use the funds to expand operations and its business reach nationwide. The article does not disclose operating metrics such as revenue or user counts.

Total raised

$171M

Funding rounds

2

Latest round

Series C

Latest activity

Jun 2022