Branch Insurance, a Columbus, OH-based home and auto insurance startup, raised $50m in Series B funding.
The round was led by Anthemis Group with participation from Acrew, Cherry Creek Holdings, and existing investors Greycroft, HSCM Bermuda, American Family Ventures, SignalFire, SCOR P&C Ventures, Foundation Capital, and Tower IV.
The company, which has raised $82.5m to date, intends to use the funds to accelerate its rollout across the U.S. to enable more national embedded partnerships.
Led by Steve Lekas, CEO, Branch Insurance utilizes technology to make bundling home and auto insurance online quick by enabling consumers to get instant, online insurance prices using a few pieces of information. The company has also launched programs that leverage community to make insurance even less expensive. Members are rewarded for inviting friends to join Branch, practicing safe driving behaviors, and pledging that their friends in the community will not commit insurance fraud. Branch also works alongside its non-profit entity, SafetyNest, to help those who are un- or underinsured.
The companys products are underwritten by the Branch Insurance Exchange and General Security National Insurance Company (GSNIC).