Hippo joined the Unicorn Club on July 21, 2020 after raising a $150 million Series E funding round led by FinTLV, Ribbit Capital, and Dragoneer Investment Group. Headquartered in Palo Alto, California, United States, Hippo provides an online platform for homeowners insurance, including coverage for house cleaners, babysitters, water backup, gas, water & sewer connections, and home office equipment. The company also offers quotes and claims processing solutions, streamlining insurance for modern homeowners.
Keep reading to learn how Hippo has grown into a $1+ billion insurtech leader.
What Is Hippo and What Does It Do?
Founded in 2015, Hippo is an online-first homeowners insurance platform. The company delivers modern insurance products covering home structures, personal property, liability, and specialty needs like babysitters or home office equipment. Hippo leverages technology to provide instant quotes, claims management, and risk prevention tools, helping customers protect their homes efficiently while improving transparency and convenience.
How Much Funding Has Hippo Raised?
1. Series A Round
- Amount Raised: $14 million
- Date: 2016
- Lead Investors: West Coast Equity Partners
- Purpose: Expand technology platform and launch customer acquisition
2. Series B Round
- Amount Raised: $25 million
- Date: 2017
- Lead Investors: Ribbit Capital, FinTLV
- Purpose: Scale platform, add insurance products, grow team
3. Series C Round
- Amount Raised: $70 million
- Date: 2018
- Lead Investors: Ribbit Capital, FinTLV
- Purpose: Expand insurance offerings and technology infrastructure
4. Series D Round
- Amount Raised: $100 million
- Date: 2019
- Lead Investors: Dragoneer Investment Group, Ribbit Capital
- Purpose: Scale operations, enhance underwriting and claims technology
5. Series E Round
- Amount Raised: $150 million
- Date: July 21, 2020
- Lead Investors: FinTLV, Ribbit Capital, Dragoneer Investment Group
- Purpose: Expand insurtech offerings, grow customer base, and scale technology
6. Series F Round
- Amount Raised: $350 million
- Date: November 24, 2020
- Lead Investors: FinTLV, Ribbit Capital, Dragoneer Investment Group
- Purpose: Expand platform capabilities, technology upgrades, and nationwide growth
Total Funding Raised: $709 million
Latest Funding Date: November 24, 2020
Latest Known Valuation: Unicorn (>$1 billion)
Key Investors
- FinTLV
- Details: Venture capital firm investing in technology and fintech startups
- Focus Areas: Insurtech, fintech, and enterprise technology
- Ribbit Capital
- Details: Growth-stage VC backing innovative financial services and insurtech companies
- Focus Areas: Insurance platforms, fintech, and digital transformation
- Dragoneer Investment Group
- Details: Growth equity firm investing in high-growth technology companies
- Focus Areas: Technology-enabled platforms, insurtech, and internet-first businesses
- Wejchert Capital
- Details: Early-stage investment firm
- Focus Areas: Technology and financial services startups
- West Coast Equity Partners
- Details: Venture capital and private equity firm investing in technology companies
- Focus Areas: Growth-stage tech, fintech, and insurtech platforms
Where Is Hippo’s Headquarters?
Hippo is headquartered in Palo Alto, California, United States, supporting engineering, product, and operational teams for its online homeowners insurance platform.
What’s Next for Hippo?
Hippo plans to continue expanding its homeowners insurance offerings, improve risk prevention and claims management technologies, and grow its customer base. The company aims to leverage AI and digital tools to make insurance simpler, faster, and more comprehensive for modern homeowners.
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