Kin, a US-based digital home insurance company, has successfully raised $15 million in funding. This latest round of investment was led by Activate Capital, a notable contributor in the venture capital landscape.
The infusion of funds is earmarked to bolster Kin’s operational capacity and further extend its market presence.
Under the leadership of CEO Sean Harper, Kin stands out as a pioneer in the direct-to-consumer digital insurance domain, particularly focusing on the homeowners insurance segment. By leveraging technology, Kin streamlines the insurance process, making it more accessible and cost-effective for consumers. Their proprietary platform harnesses property-specific data to ensure accurate pricing and tailored coverage options.
Currently operating in eight states, Kin serves approximately 115,000 policyholders, with its reciprocal exchanges amassing nearly $345 million in premium in force.
Commenting on the news, Sean Harper: “We ended the year with approximately $85 million in cash, which doesn’t include the cash in the reciprocal exchanges we manage. But in this environment, having a strong balance sheet is particularly beneficial, which is why we’re excited to partner with Activate on the investment.”
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By Proptechbuzz
By Ravi Kumar
