following summer . The year after saw two separate funding rounds that brought in more than US $ 150mn collectively – a Series C and a Series D , the latter of which recruited Tiger Global Management as an investor . In total , the company has raised north of US $ 800mn in just six years , rounded off by a seismic US $ 350mn Series E round in August 2019 and a similarly gargantuan US $ 300mn Post-IPO Debt round at the beginning of 2022 . The company , which is based in Ohio , went public in October 2020 .
Today , Root Insurance is an unstoppable force that is revolutionising car insurance – true to its original vision of orienting the insurance marketplace towards the consumer ’ s need , not the insurer ’ s . It sells in 34 states and counting and , in 2019 , diversified into renters ’ insurance and homeowners ’ insurance , which uses the same mobilebased approach to deliver seamless and affordable coverage to householders . The proposition is still niche , with the renters ’ insurance only available in nine states , but the company is growing .
Timm continues to lead the organisation he founded as CEO and , today , Root Insurance is the largest property / casualty insurtech in the country with more than 1,500 employees .
insurtechdigital . com 19