Israeli insurance company Hippo receives $150M
Insurance tech startup Hippo has raised $150 million in a Series E round at a valuation of $1.5 billion. 16 investors have participated in the round including Iconiq Capital, Felicis Ventures and new investors New Ribbit Capital, Dragoneer Investment Group among others, writes CTech.
As reported by NoCamels, in July 2019 the company reached unicorn status after completing a $100 million Series D round led by Bond Capital. Totally, Hippo has raised $359 million over 7 rounds since it was founded in 2015.
Hippo offers smart home insurance that includes coverage for household goods, as well as household services, such as cleaners and babysitters. Additionally, the company provides clients with smart home devices that are aimed to detect problems in advance, for example, water leaks or fire damage, and prevent them. Hippo is headquartered in Palo Alto, California, and operates in 29 US states.
The company is planning to invest new fundings in expansion and further developing its tech operations. Besides, as the CEO Assaf Wand says, Hippo is preparing for going public in 2021.
As we wrote earlier, another US-based online insurer Lemonade has already undertaken an IPO on the New York Stock Exchange and attracted $319 million.