Hippo Insurance Raises $350 million Series E

Hippo Insurance raised $350M in Series E financing led by Dragoneer, with participation from Dragoneer, Bond, Ribbit Capital. AI-powered home insurance with smart home monitoring. The new capital is framed around Build IoT monitoring platform and expand to 40 states.

What it does

AI-powered home insurance with smart home monitoring. The business sits in FinTech, where funded companies are using fresh capital to deepen product coverage, distribution, or operating capacity.

Traction

Home monitoring reduces claims by 60%; 200,000+ policies sold. Management framed the new capital around Build IoT monitoring platform and expand to 40 states.

Trend impact

Proactive home insurance preventing claims vs reacting to them. The capital raise matters because it gives the company more room to compete for customers, talent, and mindshare while incumbents and adjacent startups respond with clearer product depth or distribution.

Funding history

• March 1, 2021 · Series E · $350 million · Dragoneer
• November 1, 2022 · Growth Round · $150 million · Various

Products & services

• FinTech workflow monitoring tied to the funding announcement
• Customer-facing product described on the company website
• Operational tooling for fintech teams
• Data capture and reporting across core business processes
• Team expansion support funded by the latest round