Funding round
Kin Insurance Series C
Kin Insurance, which works in home insurance underwriting in Chicago, raised $64M in a Series C round announced on 10 May 2021, led by Senator Investment Group and Hudson Structured Capital Management. 5 firms took part. It is Kin Insurance's fourth venture round on record; the one before was a Series B in Aug 2020.
$64M
Amount raised
Not disclosed
Post-money valuation
5
Investors
2 leads
Valuation
What this round says about the price
Kin Insurance did not disclose a valuation in this round. It came 9 months after Kin Insurance's Series B. It is 23% of the $282M Kin Insurance has raised in the venture rounds on record. Kin Insurance raised again 10 months later: a Series D round of $82M in Mar 2022.
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 13 Aug 2020, led by Commerce Ventures $35M
- Series C this round 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
Senator Investment Group and Hudson Structured Capital Management led the round with 3 other firms.
Lead investors
- Senator Investment Group new investor
- backs 14 venture-backed companies new investor
Also in the round
- University of Chicago new investor
- backs 24 venture-backed companies new investor
- backs 25 venture-backed companies 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
19 Series C rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $100M, and this round was 64% of the median. The closest in time, other companies' Series C rounds in Insurance - Agents, Carriers & Brokers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| wefox Insurance - Agents, Carriers & Brokers | 1 Jun 2021 | $650M | $3.00B | Target Global |
| Insurance - Agents, Carriers & Brokers | 9 Jun 2021 | $100M | not disclosed | FTV Management Company |
| Insurance - Agents, Carriers & Brokers | 10 Mar 2021 | $150M | $1.10B | DST Global |
| Pie Insurance Insurance - Agents, Carriers & Brokers | 25 Mar 2021 | $118M | not disclosed | Allianz X and Acrew Capital |
| Insurance - Agents, Carriers & Brokers | 10 Mar 2021 | $100M | $750M | Insight Partners |
| Insurance - Agents, Carriers & Brokers | 26 Aug 2021 | $110M | $500M | Goldman Sachs Asset Management |
| Jerry Insurance - Agents, Carriers & Brokers | 10 Aug 2021 | $75M | $450M | Goodwater Capital |
| Insurance - Agents, Carriers & Brokers | 5 Aug 2021 | $55M | not disclosed | Apis Partners |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Kin Insurance raise in its Series C round?
Kin Insurance raised $64M in its Series C round, announced in May 2021.
Who led Kin Insurance's Series C round?
Senator Investment Group and Hudson Structured Capital Management led it, with University of Chicago, Allegis Capital and AlphaEdison.
What was Kin Insurance's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Insurance - Agents, Carriers & Brokers?
19 Series C rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $100M, and this round was 64% of the median.
Did Kin Insurance raise again after this round?
Yes: a Series D round in Mar 2022 of $82M.