Home insurance provider Hippo Raises $70M in Series C Funding

Home insurance provider Hippo Raises $70M in Series C Funding.

Felicis Ventures  and Lennar Corporation  co-led the funding round with participation from existing investors Comcast Ventures,  Fifth Wall Ventures, Horizons Ventures  and GGV Capital.

Hippo  has raised $109 million to date, including a $25 million Series B earlier this year. Co-founder and chief executive officer Assaf Wand declined to disclose Hippo’s valuation.

“Our heavy focus on customer experience for every client, from first time homeowners to home insurance experts, has been one of the main keys to our success,” Wand said. “We’re eager to expand our footprint, launch new products, and bring our incredible customer service to customers nationwide.”

The Mountain View, Calif.-based company was founded by Assaf Wand and Eyal Navon in 2015. It plans to use its latest investment to fuel the growth of its product, which sells home insurance plans at lower premiums. So far this year, Hippo has expanded into 10 new states and says its sales have grown 30 percent month-over-month since January.

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