Things To Know About Kin
Kin is an insurance based industry headquartered in Illinois. The privately held company founded in 2016 holds specialties in insurance, homeowners insurance, condo insurance and insurtech. The company provides ultimate coverage with extreme low prices to it’s customers.
Kin, a direct-to-consumer home insurance company bags an additional amount of $15m in it’s recent Series D funding, which raised the estimated fund to $109m.
The investment had an active participation of companies like Geodesic Capital, QED Investors, and additional investors.
The company aims in providing homeowners insurance by making it more convenient and affordable. To do such, some deduction will be done in need for external agents.
Since the first close of its Series D round in March 2022, the company had made its systematic, capital efficient growth, more than two times of its gross written premium while making profits in sectors of operational efficiency and profitability.
What Are The Views Of Leading Members Of The Firm On This
Sean Harper, CEO of Kin, said, “Despite the tough market for high-growth companies right now, we’ve increased revenue 2.2x, improved each of our major operating metrics, and kept the same valuation. These are good outcomes, especially when other startups are accepting punishing terms or a valuation hit. We’ve been able to achieve these outcomes because the business has performed really well and we didn’t raise capital at the hype-driven multiples that many technology companies did in 2021.”Jon Rezneck, partner and head of the investment team at Geodesic Capital, added, “Homeowners insurance distribution is an acyclical market and Kin’s unit economics, which have always been good, have only continued to improve. We were pleased for the opportunity to continue to support Kin by putting additional capital to work, further powering their mission to simplify and personalize home insurance.”
