California based insuretech startup Hippo has announced $14m in Series A funding led by Horizons Ventures. Hippo offers direct to consumer online insurance policies.
The Mountain View, Calif.-based company said it is taking a fresh approach to home insurance, which it says has seen little change in half a century. Home insurance isn’t easy to buy online, but Hippo hopes to change that with online home insurance that offers more transparent coverage. “The insurance ecosystem has been overdue for innovation and disruption. In the days of technology, convenience, and accountability, home insurance still isn’t easily available online, is overly complicated, and requires people to go through agents,” said Frances Kang of Horizons Ventures, in a statement. “We believe Hippo will be a force to reconstruct the home insurance market, providing more transparency, efficiency, and cost-savings and more importantly, peace of mind to consumers.”