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Palo Alto based home insurance startup raised $150m in Series E funding at a $1.5 billion valuation. New investors Dragoneer and Ribbit Capital joined existing investors in the financing.
“Because interest rates were so low, we see a surge of people that are refinancing their mortgage,” Wand said. “People are buying homes like crazy now.” Hippo is on track for more than $100 million of revenue in the next year, according to Wand. Hippo’s goal is to have “a clear path to profitability” by next year when it expects to be ready to go public, he said.
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