Digital home insurance company Kin has announced that it has raised $15 million in financing from new investor Activate Capital at a valuation of more than $1 billion. The platform equips homeowners with customized coverage options and fast claims service.
Kin’s solution leverages property data to provide accurate pricing and produce better underwriting results than legacy insurance solutions, according to the company. Kin has experienced significant growth recently, having increased revenue by over 50 percent year-over-year while maintaining positive net income in 2023.
The company currently operates in eight states and serves approximately 115,000 policyholders. This funding will enable Kin to accelerate its growth investments, including expanding into new markets and developing new products.
