Digital provider of home and condo insurance.
Assaf Wand (Founder, CEO)
Aviad Pinkovezky (Head of Product)
Eyal Navon (Founder, CTO)
Hippo Home Care
Lennar Insurance Agency
Spinnaker Insurance Company
The investment will support Hippo’s product roll out in additional states, to reach 95 percent of the U.S. homeowners population in the next year, as well as providing additional capital for its insurance and reinsurance companies.
Hippo is announcing a $150 million in Series E funding, valuing the business at $1.5 billion post-financing.
Hippo Insurance will continue to operate as a managing general agent with a portion of its premiums to be underwritten by its affiliate Spinnaker and the balance underwritten by other carrier partners.
New Hippo customers in select states who enroll in its smart home program will now be eligible to receive a professionally monitored home alarm system from SimpliSafe, provided completely complimentary with their homeowners’ policy.
As part of the panel, Hippo has formed its own captive to participate in the risk and underwriting profit.