Hippo Insurance has secured $100 million in a Series D funding round led by global technology investment firm Bond.

The round brings the InsurTech startup’s total funding to $209 million, with other participation in this round from Comcast Ventures, Felicis Ventures, Fifth Wall, Hillhouse Capital, Horizons Ventures, ICONIQ Capital, Lennar Corporation, Michael Ovitz, Pipeline Capital, Propel Venture Partners, RPM Ventures, Standard Industries and Zeev Ventures.

The financing will be used to fuel the expansion of Hippo’s geographic footprint to more than 80 per cent of the US homeowner population by the end of the year, deepen the direct-to-consumer product portfolio and grow the distribution network of industry partners.

Since its launch in 2017, the company has offered more proactive home insurance, from coverage and pricing to claims and service, with premiums growth of more than 10 times over the last 12 months.

Co-founder and chief executive Assaf Wand commented: “We launched Hippo to transform the outdated and often frustrating relationship people have with their home insurance provider into one that’s approachable, modern, and always adding value.”

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