Funding round
Kin Insurance Growth
Reported as "Growth Equity"
Kin Insurance, which works in home insurance underwriting in Chicago, raised $47M in a Growth round announced on 27 Aug 2019, led by August Capital. 6 firms took part. It is Kin Insurance's second venture round on record; the one before was a Seed in Aug 2017.
$47M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Kin Insurance did not disclose a valuation in this round. It came 24 months after Kin Insurance's Seed. It is 17% of the $282M Kin Insurance has raised in the venture rounds on record. Kin Insurance raised again 12 months later: a Series B round of $35M in Aug 2020.
Kin Insurance's funding rounds
Kin Insurance has 6 venture rounds on record and 3 other deals. This one is highlighted.
- Seed 1 Aug 2017 $4.0M
- Other not a venture round 11 Jun 2018 $13M
- Growth this round 27 Aug 2019, led by August Capital $47M
- Series B 13 Aug 2020, led by Commerce Ventures $35M
- Series C 10 May 2021, led by Senator Investment Group and Hudson Structured Capital Management $64M
- Series D 1 Mar 2022, led by QED Investors $82M
- Debt not a venture round 28 Oct 2022, led by Runway Growth Capital LLC and Avenue Capital Group $145M
- Debt not a venture round 8 Sep 2025, led by Wellington Management $200M
- Series E 8 Sep 2025, led by QED Investors and Activate Capital $50M
Investors
Who put money in
August Capital led the round with 5 other firms.
Lead investor
- backs 38 venture-backed companies new investor
Also in the round
- backs 55 venture-backed companies new investor
- Flourish new investor
- backs 14 venture-backed companies new investor
- backs 14 venture-backed companies new investor
- UChicago Startup Investment Program new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
5 Growth rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $36M, and this round was 1.3 times the median. The closest in time, other companies' Growth rounds in Insurance - Agents, Carriers & Brokers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Judi Health Insurance - Agents, Carriers & Brokers | 16 Jul 2019 | $12M | not disclosed | Edison Partners |
| Insurance - Agents, Carriers & Brokers | 27 Nov 2019 | $36M | $258M | not named |
| Insurance - Agents, Carriers & Brokers | 11 Dec 2018 | $2.00B | $7.00B | Blackstone |
| ManyPets Insurance - Agents, Carriers & Brokers | 5 May 2020 | $98M | not disclosed | FTV Management Company |
| Insurance - Agents, Carriers & Brokers | 20 Nov 2018 | $7.5M | not disclosed | 4490 Ventures |
| Insurance - Agents, Carriers & Brokers | 22 Jul 2020 | undisclosed | not disclosed | Parthenon Capital |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Kin Insurance raise in its Growth round?
Kin Insurance raised $47M in its Growth round, announced in Aug 2019.
Who led Kin Insurance's Growth round?
August Capital led it, with Commerce Ventures, Flourish, Avanta Ventures, Hudson Structured Capital Management and UChicago Startup Investment Program.
What was Kin Insurance's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Insurance - Agents, Carriers & Brokers?
5 Growth rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $36M, and this round was 1.3 times the median.
Did Kin Insurance raise again after this round?
Yes: a Series B round in Aug 2020 of $35M.