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Homeowners Insurance 📈

Homeowners Insurance 📈
November 19, 2020

The Daily Stack is a daily market insight newsletter by PrivCo, a private market intelligence platform. Read our previous insights.
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The cost of homeowners insurance has risen considerably in recent years, especially as we see an increase in the impact of natural disasters like hurricanes and wildfires that are driving rates upwards. According to research by ValuePenguin, the average cost of home insurance is $1,445, an increase of 59% from the 2010s. 

Photo credit: jcomp

The increasing market has also led to a shift towards more people shopping online for insurance and success for some digital-first insurance companies like Lemonade that have used AI technology to handle renter insurance applications and claims. The company itself has also made a splash, threatening other long-standing insurance providers to IPO in a short 5 year period in July this year. 

The Kayak of Home Insurance
The Zebra is a marketplace for home insurance (as well as car insurance)) that helps you shop between different insurance policies, as the virtual insurance concierge. It’s raised two rounds of funding this year, a Round C of $38.5MM as well as an additional equity round in June for $5MM, and is one of our highest growth companies in the home insurance vertical. 

Plagued by Catastrophe but Still in the Black
Liberty Mutual, one of the largest American insurers is a mutual company where policyholders are considered shareholders of the company. Despite catastrophe losses by increased frequency of natural disasters like Hurricane Laura and the wildfires in the West coast nearly $1BN, the company reported a positive net income increase of 46% in Q3. 

Shop for ALL Insurances Here
PolicyGenius is another online insurance marketplace that received significant funding in January this year of $110MM led by KKR. It targets not just home/renters and auto insurance but also life, pet, health insurance. There’s even a more function that looks into vision, identity theft, traveling, and more.

The Newcomer
Steadily is a newcomer that focuses on home and property insurance coverage. It received $3.8MM seed funding to launch its product last month to help landlords secure property coverage straight from their mobile phones. 

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Since last week, PrivCo has added:
1109 Companies | 100 Funding Activities | 188 M&A Deals

Funding & Deal Highlights:

HOVER raises $60MM led by multiple insurance carriers 
Real Estate Software & Internet Services • Round D • San Francisco, CA

Gretel raises $12MM led by Greylock
Data Software & Internet Services • Series A • San Diego, CA

Inception raises $120MM in led by Contemporary Amperex Technology
Heavy-Duty Vehicles • Equity • Shanghai, China

Kalviyo raises $200MM led by Accel
Software & Internet Services • Series C • Boston, MA

Cato Networks raises $130MM led by Lightspeed Ventures
Software & Internet Services • Equity • Tel Aviv, Israel 

Zeotap raises an extension of $18.5 MM from SignalFire
CRM Software & Internet Services • Round C • San Francisco, CA

EdgeQ raises $38.5 MM from multiple investors
Semiconductors & Semiconductor Equipment • Round A • Santa Clara, CA

Arrikto raises $10MM led by Unusual Ventures
AI Software & Internet Services • Round A • San Mateo, CA

BondVet raises $17MM led by Talisman Capital Partners
Pet Care Specialized Consumer Services • Round A • New York, NY

ActivTrak raises $50MM led by Sapphire Ventures
SaaS Software & Internet Services • Round B • Austin, TX

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