Hippo, a Mountain View, CA-based insurtech company, raised $25m in Series B funding.
The round was led by Comcast Ventures and Fifth Wall, with participation from fintech investors.
The company intends to use the funds to support several expansion and development initiatives planned for 2018, including opening a new customer service center in Austin, Texas, that will serve as the hub for claims advocate concierges, along with its insurance operations teams.
Founded in 2015 by Assaf Wand and Eyal Navon, Hippo aims to innovate home insurance by leveraging big data, like municipal building records, and innovative technology, such as satellite imagery and smart home devices, to streamline the quote and onboarding experience, for such products as protection for possessions like appliances, consumer electronics and home offices.
Since its launch in California in April 2017, Hippo has expanded to Arizona and Texas. Hippo will continue expanding its reach to additional states throughout the year and is aiming to reach 60 percent of the U.S. population by the end of 2018.