Kin, a digital-first home insurance company known for its direct-to-consumer model, announced the closing of a $50 million Series E funding round. This round was oversubscribed and completed at a pre-money valuation of $2 billion, signaling strong investor confidence in Kin’s approach to modernizing home insurance. Along with the equity raise, Kin secured a $200 million debt facility, using $145 million to refinance existing obligations.
These transactions together provide $105 million in new capital to support the company’s growth, the launch of a new reciprocal exchange, and the development of innovative insurance products tailored to customer needs.
Kin currently manages over $600 million in active premiums and insures more than $100 billion worth of property across 13 states. This coverage represents more than half of the total addressable market for home insurance in the United States. Since becoming profitable in 2023, Kin has maintained strong growth and operating margins, consistently outperforming industry benchmarks, such as the Rule of 40 and Rule of X, which measure the balance between growth and profitability.
The need for reliable home insurance has become more urgent as climate change drives increasingly severe natural disasters. In 2024 alone, insured losses from global catastrophes reached $137 billion. Events such as wildfires, hurricanes, and floods have led many traditional insurers to withdraw from high-risk states like California, Florida, Texas, and Louisiana. This has left millions of homeowners without adequate coverage or competitive options. Kin is stepping into this gap by using advanced technology and data analytics to assess risk more accurately and offer fair pricing, even in areas where other insurers are pulling back.
The Series E round was led by QED Investors and Activate Capital, with additional support from both new and returning investors. Wellington Management led the debt financing. This latest round brings Kin’s total equity raised to $286 million and nearly doubles its previous valuation of $1.1 billion. The new funding will enable Kin to expand its reach and continue its mission of making home insurance more accessible and affordable nationwide.
Founded in 2016, Kin is redefining how home insurance works by combining technology, data, and a customer-first approach. The company currently serves homeowners in Alabama, Arizona, California, Colorado, Florida, Georgia, Louisiana, Mississippi, Missouri, South Carolina, Tennessee, Texas, and Virginia. As climate risks continue to reshape housing markets, Kin’s model positions it as a forward-thinking leader in protecting homes and families.
KEY QUOTES:
“Insurance is a critical safety net, but it’s disappearing just when people need it most. We built Kin differently. Our unique use of data and expert analysis enable us to better assess risk profiles of specific homes and offer customized protection. We’ll use this funding round to expand in markets most affected by natural disasters in a way that’s sustainable, scalable, and customer-focused.”
Kin Founder and CEO Sean Harper
“Kin fills a gap impacting millions of Americans that will intensify for the foreseeable future. And, as a direct-to-consumer company, they’re doing it with precision, efficiency, and empathy. Unfortunately, extreme weather is a reality for most of the country and legacy insurers are struggling to serve these homeowners. Kin is showing that technology can help humanity adapt to the current situation. It’s a necessary and bold business strategy. We’re proud to deepen our partnership.”
Amias Gerety, partner at QED
“Kin’s unique approach allows them to price affordable policies in geographies disproportionately impacted by extreme weather events. They’re not just writing policies; they’re offering a vital financial service to homeowners who need it most. We’re enthusiastic about investing further in a company that’s truly innovating and making a real difference.”
Eric Meyer, partner at Activate Capital
