• Source: Kin Insurance

Kin Insurance, Inc. is an American technology company founded in 2016. The company offers home insurance through its data-driven platform. Coverage is issued through the Kin Interinsurance Network and the Kin Interinsurance Nexus Exchange. Kin Insurance surpassed $1bn valuation and gained unicorn status.




History


Kin Insurance, Inc. was established in 2016 by Sean Harper, Lucas Ward, and Sebastian Villarreal, who had experience in financial technology, having built and sold businesses to Groupon, Insight Venture Partners, and Avant.
In September 2016, the company completed an angel funding round, securing $650,000 from a group of investors. This was followed by a seed funding round in August 2017, in which Kin raised $4 million from various investors, including Service Provider Capital and Sandalphon Capital. In February 2018, Kin completed its Series A funding round, raising $13.1 million with Commerce Ventures and August Capital as lead investors, followed by a Series C funding round in June 2021, where it secured $69.2 million from investors such as Flourish Ventures and Hudson Structured Capital Management. In a Series D funding round in March 2022, the company raised $82 million. A subsequent third close in March 2023 added $15 million to the Series D total, bringing it to $109 million. In September 2023, Kin announced a $33 million Series D extension, with QED Investors leading the round.
In October 2023, the company partnered with designer and television host Ty Pennington, who joined Kin as a brand ambassador.
In 2023, its value passed $1bn, and it secured unicorn status within the Series D round of investments. By February 2024, Kin had raised an additional $15 million in financing from Activate Capital, a growth-stage venture capital firm, bringing the total equity funding to approximately $265 million. Kin's carriers, the Kin Interinsurance Network and the Kin Interinsurance Nexus Exchange received a Financial Stability Rating of A, Exceptional, from Demotech. In 2023, Kin was reviewed as A+ by the Better Business Bureau.




Operations


The company can maintain coverage in high-risk areas by focusing on data and artificial intelligence. It provides home insurance in Florida, Alabama, Arizona, Georgia, Louisiana, Mississippi, South Carolina, Tennessee, Texas, and Virginia. The company is headquartered in Chicago, Illinois and operates digitally to save on brick-and-mortar locations. Sean Harper is CEO of Kin Insurance, Inc.




References






External links


Official website

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