Happy Hippo Picks Up More Than $25 Million

Mountain View-based digital MGA for home and condo insurance, Hippo, has recently filed two Form D’s with the Securities and Exchange Commission (SEC), totaling a bit over $39M in equity .

 

Have a look:

Hippo_Oct_2017_SEC_Form_D ($14,355,142)

Hippo_Jan_2018_SEC Form D ($24,999,999)

 

The company currently operates in California, Arizona and Texas, with plans to expand to “60% of the US population by the end of the year” thanks to its recent partnership with Spinnaker Insurance. Recall: back in Dec. 2016, Hippo announced a $14M Series A round.

Stranger thing. On April 26, 2017, Hippo went officially live, and announced its partnership with Swiss Re. Now it appears that Swiss Re is MIA. However, Hippo can explain. “Hippo’s policies are covered by Topa Insurance Company, which is backed by Swiss Re. There have been no changes to this relationship” – a spokesperson for Hippo.

 

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