Funding round
Kin Insurance Series B
Kin Insurance, which works in home insurance underwriting in Chicago, raised $35M in a Series B round announced on 13 Aug 2020, led by Commerce Ventures. 9 firms took part. It is Kin Insurance's third venture round on record; the one before was a Growth in Aug 2019.
$35M
Amount raised
Not disclosed
Post-money valuation
9
Investors
1 lead
Valuation
What this round says about the price
Kin Insurance did not disclose a valuation in this round. It came 12 months after Kin Insurance's Growth. It is 12% of the $282M Kin Insurance has raised in the venture rounds on record. Kin Insurance raised again 9 months later: a Series C round of $64M in May 2021.
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 27 Aug 2019, led by August Capital $47M
- Series B this round 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
Commerce Ventures led the round with 8 other firms.
Lead investor
- backs 55 venture-backed companies new investor
Also in the round
- backs 14 venture-backed companies new investor
- backs 67 venture-backed companies new investor
- QED Investors backs 160 venture-backed companies new investor
- backs 25 venture-backed companies new investor
- backs 24 venture-backed companies new investor
- backs 14 venture-backed companies new investor
- backs 38 venture-backed companies new investor
- University of Chicago new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
23 Series B rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $32M, and this round was close to the median. The closest in time, other companies' Series B rounds in Insurance - Agents, Carriers & Brokers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Insurance - Agents, Carriers & Brokers | 21 Oct 2020 | $105M | not disclosed | not named |
| Insurance - Agents, Carriers & Brokers | 15 Oct 2020 | $24M | not disclosed | IA Capital |
| Insurance - Agents, Carriers & Brokers | 22 May 2020 | $18M | not disclosed | CommerzVentures |
| Insurance - Agents, Carriers & Brokers | 23 Nov 2020 | undisclosed | not disclosed | Elevat3 |
| Insurance - Agents, Carriers & Brokers | 7 Dec 2020 | $61M | not disclosed | EQT Ventures |
| Insurance - Agents, Carriers & Brokers | 2 Dec 2020 | $40M | $100M | The Chernin Group |
| Insurance - Agents, Carriers & Brokers | 3 Feb 2021 | $52M | not disclosed | Westerly Winds and Moor Davidow Ventures |
| Judi Health Insurance - Agents, Carriers & Brokers | 2 Feb 2021 | $50M | not disclosed | Transformation Capital |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Kin Insurance raise in its Series B round?
Kin Insurance raised $35M in its Series B round, announced in Aug 2020.
Who led Kin Insurance's Series B round?
Commerce Ventures led it, with Hudson Structured Capital Management, Flourish Ventures, QED Investors, AlphaEdison and Allegis Capital and 3 more.
What was Kin Insurance's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Insurance - Agents, Carriers & Brokers?
23 Series B rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $32M, and this round was close to the median.
Did Kin Insurance raise again after this round?
Yes: a Series C round in May 2021 of $64M.