The Zebra, an Austin, Texas-based insurance comparison site, raised $38.5m in Series C funding.
The round was led by Accel with participation from Weatherford Capital and current investors Silverton Partners, Daher Capital, Floodgate Fund, Ballast Point Ventures, and The Zebra’s CEO, Keith Melnick.
The company intends to use the funds to expand its business reach.
The Zebra is an insurance comparison site with over 1.3 million website visitors per month. With its dynamic, real-time quote comparison tool, drivers can identify insurance companies with the coverage, service level, and pricing to suit their needs. The Zebra compares more than 100 insurance companies and provides agent support and educational resources to ensure drivers are equipped to make the most informed decisions about their home and auto insurance.
The company’s revenue grew almost 200% year over year to nearly $37 million in 2019. Their annual run rate is now exceeding $60 million, more than half of which is driven by users coming organically to The Zebra’s website. Revenue is expected to grow over 100% in 2020.