Wand, who co-founded the startup in 2015 with Eyal Navon, said he spent 14 times seeing the technology that would become Hippo, inspired by his father’s career in the outmoded insurance industry.
” I was born into insurance ,” Wand told TechCrunch.” Now, the entire real estate ecosystem is changing and service industries is massive. We are getting a crazy good challenge. We guess the sky’s the limit with this thing .”
The Mountain View, Calif.-based company officially launched to customers in 2017. It plans to use its latest investment to fuel the growth of its product, which sells home insurance programs at lower premiums. So far this year, Hippo has expanded into 10 new states and says its sales have grown 30 percent month-over-month since January.