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 transaction has been unanimously approved by the Boards of Directors of both Hippo and Reinvent.
Partnership offers ADT’s professional monitoring and installation services to new Hippo customers and extends Hippo’s smart home insurance discounts to ADT customers.
The round was led by EQT Ventures, with existing investors Accel, Founders Fund and Speedinvest also participating.
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.