Felicis Ventures and Lennar Corporation led the round
Home insurance startup Hippo has raised a $70 million Series C funding round, which was co-led Felicis Ventures and Lennar Corporation, according to TechCrunch and VentureBeat. This brings the total money raised to $109 million.
What they do: The startup relies on existing insurance companies and takes a commission from policies granted through the platform. With software and technology, Hippo seeks to bring efficiency to the antiquated insurance process.
SoftBank lurking… Hippo competes with SoftBank-backed Lemonade, which has raised $180 million at a valuation of $600 million.