Home insurance provider Hippo has raised $25 million in Series B funding, led by Comcast Ventures and Fifth Wall, and joined by other top fintech investors.
Hippo’s smart home insurance policies aim to offer comprehensive coverage for today’s homeowners while cutting premium costs. The company says it has eliminated process inefficiencies and outdated policy provisions to offer better and more relevant coverage. All Hippo policies are backed by reinsurers, so homeowners can feel secure no matter how big a disaster may hit.
The new investment will support several expansion and development initiatives planned for 2018, including opening a new customer service center in Austin, TX, that will serve as the hub for Hippo’s claims advocate concierges and its insurance operations teams.