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![]() "He Sold His Business And Then Raised Over $100 Million To Disrupt A $100 Billion Industry". "Sabi: Bringing Innovation to a Forgotten Industry". "Why this Hippo is hungry - for homeowners insurance". "The Hippo in the room: How the insurtech unicorn lost half its value in two weeks". "What Does It Take To Remake The UX Of A $90 Billion Industry?". Insurance veteran Richard McCathron was elevated to CEO. As of mid October 2022, the value of a share purchased at the IPO had fallen by more than 95%. ![]() In June 2022, Wand was appointed executive chairperson of Hippo. Hippo went public and was listed on the New York Stock Exchange through Reinvent Technology Partners, its special-purpose acquisition company, in August 2021. Hippo acquired Sheltr, a San Francisco-based tech-enabled services startup designed to provide home wellness checkups, in November 2019. In November 2020, Hippo raised $350 million from an investment by Mitsui Sumitomo Insurance Company, Limited, a subsidiary of MS&AD Insurance Group In July 2020, Hippo raised $150 million in Series E funding. In July 2019, Hippo raised $100 million in Series D funding, led by Bond Capital. Īlso in November 2018, Hippo raised $70 million in Series C funding, led by Felicis Ventures and Lennar. In July, $100 million was raised in new venture capital, led by Mary Meeker's Bond Capital, bringing Hippo's valuation to $1 billion. A $70 million funding round was announced in November 2018, and in March 2019, with Hippo insurance available to more than 50% of the homeowners in the United States, the company reported a 25 percent month-over-month sales growth and total insured property value of more than $50 billion. The funding was used, in part, to open a customer service and insurance operations center in Austin, Texas. ![]() In November 2018, Hippo raised $25 million in Series B financing, led by Comcast Ventures and Fifth Wall Ventures. At launch, the company's marketing was centered on the delivery of a 60-second quote for homeowners insurance policies a transparent, online purchase process and smart home sensors that could proactively identify and prevent potential damage to policyholder's homes. In December 2016, to fund product development, Hippo raised $14m in a Series A round of venture capital financing, and in April 2017 Hippo launched in California. It was founded in 2015, shortly after Wand's third start-up, Sabi, was acquired. A serial entrepreneur who had previously founded several companies, Wand's interest in insurance was inspired by his father's lengthy career in the "antiquated" insurance industry. Hippo was founded by Assaf Wand, a former Intel Capital investor and McKinsey consultant, and Eyal Navon, an entrepreneur with a background in software engineering and R&D. The company sells insurance policies directly to customers and through independent insurance brokers. They use AI and big data to aggregate and analyze property information. Hippo offers homeowner's insurance that covers the homes and possessions of the insurance holder as well as liability from accidents happening in the insured property. Hippo is an American property insurance company based in Palo Alto, California.
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