Hippo Enterprises builds modern home insurance products with an efficient online purchase experience, smart‑home device kits included with eligible policies, and expanded coverage for possessions like appliances, electronics, and home offices. The company positions itself as a modern alternative for homeowners by leveraging trusted data sources and analytics. Hippo Insurance Services is a licensed property casualty insurance agent with products underwritten by various insurers, and Hippo’s Insurance Company is licensed in all 50 states and rated A‑ (Excellent) by A.M. Best. Hippo’s products are available to over 70 percent of U.S. homeowners today, and the company plans to expand availability to reach 95 percent of the U.S. homeowners population in the next year. The recent capital infusion is intended to support that state roll‑out and to provide additional capital for Hippo’s insurance and reinsurance companies. Hippo provides home insurance products that are bundled with a smart-home device kit and include coverage for possessions such as appliances, electronics and home offices. Its insurance products are available to more than 70% of U.S. homeowners and Hippo Insurance Services is a licensed property-casualty insurance agent with policies underwritten by various insurers. The company has offices in Palo Alto, Austin and Dallas and is led by co-founder and CEO Assaf Wand. Over the past 12 months Hippo grew total written premiums to $270 million, a 140% year-over-year increase. The company plans to use the new funding to accelerate expansion, make key hires, invest in its technology operations and pursue a proposed acquisition of a national insurance carrier. Hippo offers homeowners online quotes, the ability to purchase home insurance, and ‘smart’ coverage that protects possessions like appliances, consumer electronics and home offices. Its platform uses data-driven pricing and real-time underwriting that analyze public datasets—from municipal building records to satellite imagery—to profile properties and tailor quotes. The company has built a partner distribution network including homebuilders, lenders and connected-home brands such as Lennar, Better.com, First American Property & Casualty Insurance Company and Xfinity. Hippo operates from Palo Alto and also maintains offices in Dallas and Austin, Texas. The company raised a $100M Series D in 2019, bringing total funding to $209M, and plans to use the capital to expand its geographic footprint, deepen its direct-to-consumer product portfolio, and grow its distribution network. Hippo is a tech-enabled home insurance marketplace that sells home insurance plans, aiming for lower premiums through automated underwriting and proprietary policy management. The company was founded in 2015 and launched to consumers in 2017. Hippo plans to use the new funding to fuel product growth and geographic expansion. So far this year it has expanded into 11 new states and reports sales growing 30% month-over-month since January. Hippo has raised $109 million to date, including a $25 million Series B earlier this year; the company’s valuation was not disclosed. Hippo offers an online home-insurance platform that emphasizes speed and customer experience, claiming it can sign customers up in about 60 seconds. Its policies are underwritten by established insurance carriers while Hippo collects a commission on sold plans. The product expands coverage beyond standard policies to include items such as service-line failures and broken appliances. Hippo is currently licensed to sell policies in California, Arizona and Texas. The company was founded three years ago and has pursued venture funding to scale its product and distribution. Investors and executives describe Hippo as a cheaper, more streamlined alternative to traditional insurers with strong distribution partnerships.

Total raised

$709M

Funding rounds

6

Latest round

Equity

Latest activity

Nov 2020