Kin announces $15M in fresh financing from new investor Activate Capital

Feb 05, 2024•almost 2 years ago

Amount Raised

$15 Million

ChicagoInsurance

Investors

Activate Capital

Description

Kin announces $15M in fresh financing from new investor Activate Capital. Raising at an increased valuation, greater than $1 billion, Kin can accelerate its growth investments, including multiple new markets and products. The new financing will widen the gap with legacy insurers that aren’t able to quickly respond to changes in climate, technology, and consumer preferences.

Company Information

Company

Kin Insurance

Location

222 W MERCHANDISE MART PLAZA

Chicago, Illinois, United States

About

Kin is the home insurance company for every new normal. By leveraging proprietary technology, Kin delivers fully digital homeowners insurance with an elegant user experience, accurate pricing, and fast, high-quality claims service. Kin offers homeowners, landlord, condo, and mobile home insurance through the Kin Interinsurance Network (KIN), a reciprocal exchange owned by its customers who share in the underwriting profit. Because of its efficient technology and direct-to-consumer model, Kin provides affordable pricing without compromising coverage.

Related People

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Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

Tech investment trends