The Zebra, an Austin, Texas-based insurance comparison site, raised $150m in Series D funding, valuing the company at more than $1 billion.
Backers included Weatherford Capital and Accel, among others. Other investors include Silverton Partners, Ballast Point Ventures, Daher Capital, Floodgate Fund, The Zebra’s CEO Keith Melnick, and KDT.
The company intends to use the funds to continue to expand operations and its business reach.
The Zebra is an independent insurance comparison site which features a dynamic, real-time quote comparison tool for consumers to identify insurance companies with the coverage, service level, and pricing to suit their unique needs. The Zebra compares multiple insurance companies and provides agent support and educational resources to ensure consumers are equipped to make the most informed decisions about their home and auto insurance.
The company’s performance grew significantly in 2020: net revenue grew from $37M in 2019 to $79M in 2020, with a current annual run rate of $150M. Monetization unit economics continue to rise 100% year over year. The Zebra’s headcount has increased nearly 60% since early 2020, from approximately 200 to more than 325 employees during the temporary pivot to a fully-remote model for the duration of the pandemic.
The Zebra has raised more than $250M to date, including seed funding.