Kin Insurance Raises $82M in First Close of Series D Financing

kin

Kin Insurance, a Chicago, IL– based direct-to-consumer home insurance company, raised $82m in the first close of its Series D round, with additional commitments for a second close totaling $18m.

The round was led by QED Growth with participation from returning investors Commerce Ventures, Flourish Ventures, Hudson Structured Capital Management Ltd. (doing its reinsurance business as HSCM Bermuda), Alpha Edison, Allegis NL Capital, Avanta Ventures (venture arm of CSAA Insurance Group, a AAA Insurer), and August Capital, and new investors Geodesic Capital and PROOF.VC.

The company intends to use the funds to continue to recruit talent across all departments, expand its suite of insurance products, and bring its proprietary technology and direct-to-consumer model to additional states.

Led by Sean Harper, Chief Executive Officer, Kin makes home insurance convenient and affordable by cutting out administrative and agent-related expenses. Customers receive a direct experience through the technology platform, which instantly draws on thousands of data points to evaluate the risk profile of each home and price policies.

Kin, which currently operates in Florida, Louisiana and California, is to launch in several new markets.

FinSMEs

01/03/2022