Root Insurance

About

Root Insurance is a property casualty insurtech that offers personalized, affordable coverage in an app.

Columbus,Ohio,United States
501 - 1000
https://joinroot.com

Highlights

Details

Last Funding Type: Post-IPO Debt
Last Funding Money Raised: $300M
Industries: Auto Insurance,Automotive,Insurance,InsurTech,Property Insurance
Founded date: Mar 1, 2015
Number Of Employee: 501 - 1000
Operating Status: Active
Stock Symbol: nasdaq:ROOT
Legal Name: Root Insurance Co
Also Known As: Root Insurance Company

Root Insurance is a property-casualty insurtech that offers personalized, affordable coverage in an app. 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 car insurance rates. Root also offers hassle-free and affordable app-based renters insurance, providing coverage that’s easy to understand and is personalized around real consumer needs.

Funding Rounds

Number of Funding Rounds

Total Funding Amount

7

$1.55B

Root Insurance has raised a total of $1.55B in funding over 2 rounds. Their latest funding was raised on Jan 26, 2022 from a Post-IPO Debt round.

Announced Date	Round	Money Raised	Number of Investors	Lead Investors	Post Valuation
Jan 26, 2022	Post-IPO Debt	$300M	1	BlackRock	—	Detail
Oct 28, 2020	IPO	$724.41M	—	—	—	Detail
Aug 20, 2019	Series E	$350M	7	Coatue DST Global	—	Detail
Aug 22, 2018	Series D	$100M	4	Tiger Global Management	—	Detail
Mar 27, 2018	Series C	$51M	4	Redpoint	—	Detail

Investments

Number of Investments

Number of Lead Investments

2

0

Root Insurance has made 2 investments. Their most recent investment was on Dec 1, 2021, when Empora Title raised $22.08M.

Date Company Name	Round	Money Raised	Industry	Lead Investor
Dec 1, 2021 Empora Title	Series A	$22.08M		—
Dec 1, 2020 Empora Title	Seed	$4.60M		—

Investors

Number of Lead Investors

Number of Investors

7

9

Root Insurance is funded by 9 investors. BlackRock and Coatue are the most recent investors.

Investor Name	Lead Investor	Funding Round
BlackRock	Yes	Post-IPO Debt
Coatue	Yes	Series E
DST Global	Yes	Series E
Drive Capital	—	Series E
Redpoint	—	Series E
Ribbit Capital	—	Series E
Scale Venture Partners	—	Series E
Tiger Global Management	—	Series E
Silicon Valley Bank	—	Series C