Root Insurance, the car insurance company that incorporates individual driving behavior in every quote, announced yesterday $100 million in Series D funding. This latest round, led by Tiger Global Management, raises Root’s valuation to $1 billion and provides additional capital to deepen penetration in existing markets, expand into new states, and fuel hiring plans, with a focus on engineers, actuaries, claims, and customer service to support increased scale. Redpoint Ventures, Ribbit Capital, and Scale Venture Partners all participated as follow-on investors in this latest round.
Founded in 2015, Root aims to bring the auto insurance industry into the mobile age
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.