HOVER raises $60 million
San Francisco-based HOVER , a technology company that provides an end-to-end data platform for home improvement and property insurance professionals, announced a $60 million Series D financing led by insurance carriers Travelers , State Farm Ventures , and Nationwide .
The round also included participation from long-time investor, Standard Industries, as well as other firms in building and technology: Menlo Ventures, GV, Alsop Louie Partners and Guidewire Software. The capital will be used to enhance the company’s 3D data platform and expand its e-commerce efforts.
“Today’s investment is evidence that our new and existing investors believe we will continue the transformation of the insurance and home improvement industries. I’m incredibly proud of the team’s work to grow and scale our business while maintaining a strong commitment to our customers and each other. As we deepen our relationships with top insurance carriers and expand our product offerings, we will remain focused on delivering value for our partners and customers, and continue improving the experience for the homeowner.” – Founder and CEO of HOVER A.J. Altman.
“It’s important to us that we provide our customers with the best possible experience, and HOVER’s technology helps us to do that by creating a simpler, faster and more transparent claims process. We see a tremendous opportunity for HOVER in the insurance industry, and we’re pleased to continue our partnership and invest in their future.” – Executive vice president and chief claims officer of Travelers Nick Seminara.