Hippo, a Mountain View, Calif.-based insurtech startup focused on smart home insurance, raised $14m in Series A funding.
The round was led by Horizons Ventures, with participation from RPM Ventures, Propel Venture Partners, GGV Capital and Pipeline Capital as well as FinTech investors and entrepreneurs including:
– Mark Lefanowicz (CEO, Ethos Lending),
– Pete Flint (Founder, Trulia & Board of Directors, Zillow Group),
– Warren Hogarth (former Partner, Sequoia),
– Jacob Gibson (Founder, NerdWallet),
– Matt Humphrey (CEO, LendingHome),
– Josh Stech (Founding Partner, LendingHome),
– Louis Beryl (Founder & CEO, Earnest),
– Ramtin Naimi (General Partner, Abstract Ventures),
– Soo Boon Koh (Managing Partner, iGlobe Partners) and
– Christopher Hill (Founder & Chairman, PerkSpot).
The company intends to use the funds for product development and marketing as it prepares for its upcoming official launch in early 2017.
Founded in 2015 by Assaf Wand and Eyal Navon, Hippo is to launch a home insurance product that can be purchased online, removing commissioned agents.
The company has already received regulatory approval by the California Department of Insurance to begin selling in California and is currently in the middle of a closed beta program.