UChicago has returned for a $35m series B round for Kin Insurance, co-founded by an alumnus of the university’s Booth School of Business.
Kin Insurance, a US-based insurance technology developer, raised $35m in a series B round yesterday featuring University of Chicago (UChicago)’s venture capital fund Startup Investment Program.
VC firm Commerce Ventures led the round, which also attracted Hudson Structured Capital Management, Flourish Ventures, QED, Alpha Edison, Allegis NL Capital, August Capital and Avanta Ventures, the corporate venturing arm of insurer CSAA Insurance.
Founded in 2016, Kin Insurance sells home insurance policies directly to consumers, relying on data analytics to recommend appropriate coverage. It has set up its business as a reciprocal exchange, meaning it shares underwriting profits with customers.
Kin Insurance was co-founded by Sean Harper, who graduated with an MBA from UChicago’s Booth School of Business in 2009, making the company eligible for the Startup Investment Program.
The company has run a pilot of its business in the US state of Florida and will use the…
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).
