UChicago once again invested in Kin Insurance, participating in a $63.9m series C round that brought its overall funding to nearly $150m.
Kin Insurance, a US-based insurance technology developer, has collected $63.9m in series C financing from investors including University of Chicago (UChicago) through its Startup Investment Program, according to Crunchbase News.
Senator Investment Group and Hudson Structured Capital Management co-led the round, which also attracted Allegis NL Capital and Alpha Edison.
Kin Insurance provides home insurance policies directly to the consumer, rather than relying on a brokerage. It calculates risk based on thousands of data points pulled in from third-party sources, such as government records on building permits and satellite imagery.
The company is currently active in the US states of California, Florida and Louisiana, focusing on markets where severe weather has historically made it difficult for homeowners to buy insurance.
The capital has been allocated to recruitment and an expansion into additional markets – including Texas, the rest of the gulf and regions around the Atlantic…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
