Last week, InsurTech company Hippo announced a $100 million Series D funding round led by Bond, the global technology investment. Hippo, which utilizes internet-connected sensors, satellite imagery, and automation to deliver better insurance policies to homeowners, will expand its geographic footprint with the funding.
Since its launch in 2017, Hippo’s modern take on home insurance, from coverage and pricing to claims and service, has evolved into a new kind of insurance that proactively identifies and resolves ongoing risks for today’s consumers. Assaf Wand, co-founder and CEO of Hippo, had this to say about the most recent funding:
“We launched Hippo to transform the outdated and often frustrating relationship people have with their home insurance provider into one that’s approachable, modern, and always adding value. Not only are more than 60% of US homeowners underinsured but traditional insurance only interacts with you when you file a claim."
Wand went on to tell how Hippo is providing more comprehensive policies and helping customers prevent claims from ever happening through protective services, programs and alerts that safeguard their family and their homes from loss.
Hippo’s Series D investment brings the company’s total funding raised to $209 million with participation in this round from Comcast Ventures, Felicis Ventures, Fifth Wall, Hillhouse Capital, Horizons Ventures, ICONIQ Capital, Lennar Corporation, Michael Ovitz, Pipeline Capital, Propel Venture Partners, RPM Ventures, Standard Industries, and Zeev Ventures.