
Root Insurance Stock
Mobile-First insurance carrier
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About Root Insurance Stock
Root is a car insurance company founded on the belief that people who drive well are less likely to get into accidents, and that those people should pay less for insurance. With that in mind, Root set out to reinvent a broken industry, an industry that was still assigning rates based primarily on demographics and had an archaic agent structure. Using technology in smartphones to measure driving behavior such as braking, speed of turns, driving times, and route regularity, Root determines who is a safe driver and who isn't. By only insuring safe drivers, Root can offer more affordable rates. And the entire Root experience lives in a simple, easy-to-use app. The company was co-founded in March 2015 by Alex Timm and Dan Manges and is headquartered in Columbus, Ohio. As of October 2018, Root offers insurance in 20 states. Drivers in other states can sign up to be notified as other states become available. The company only offers personal car insurance policies at this time.
Investors
Drive Capital
Olive, Greenlight, SonderMind, ApplyBoard, Udacity, Fast Radius, FarmLogs, Root Insurance
Redpoint
Cityblock Health, PsiQuantum, SentinelOne, Cockroach Labs, Getaround, Guild Education, Alchemy, Arctic Wolf, Nextdoor, Workato
Ribbit Capital
Robinhood, CoinSwitch Kuber, Nubank, Affirm, Brex, Gusto, Coalition, Coinbase, Razorpay, Chainalysis
Scale Venture Partners
Box, Motive, Forter, DataStax, Socure, Matillion, Demandbase, WalkMe, CircleCI, Viz
Tiger Global Management
Flipkart, JUUL, Delhivery, Ather Energy, Databricks, Grab, Chime, Ola, Quikr, Palantir Technologies
Funding History
August 2019 | $350M |
---|---|
August 2018 | $100M |
March 2018 | $51.0M |
June 2017 | $21.5M |
October 2016 | $5.0M |
Management
Co-Founder & Chief Executive Officer
Alex Timm
Co-Founder & Chief Technology Officer
Dan Manges
Chief Data Scientist
David Martin
Chief Financial Officer
Daniel Rosenthal
Chief R&D Officer
Hemal Shah
Press
globenewswire - Oct, 23 2019
2019 InsurTech investment already ahead of 2018 total; policy administration systems in focusbenzinga - Sep, 26 2019
Root Insurance Reviewnews - Sep, 10 2019
Ohio Unicorn Root Insurance Rolls On With $350M In New Cashfinsmes - Aug, 25 2019
Root Insurance To Raise $350M in Series E; Valued at $3.65 Billionbusinesswire - Aug, 7 2019
Root Insurance Announces Entry into Californiaprnewswire - Jun, 26 2019
Goodyear Teams with Root Insurance to Reward Safe DriversEquityZen does not have an affiliation with, formal relationship with, or endorsement from any companies featured above. This profile is based on publicly available information and is intended to be informative in nature.
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