Funding to accelerate growth, expand products
CHICAGO, Sept. 8, 2025 /PRNewswire/ — Kin, the pioneering, direct-to-consumer, digital home insurance provider, raised an oversubscribed $50 million Series E financing, at a pre-money valuation of $2 billion. The company also closed on a $200 million debt facility, $145 million of which was used to repay an existing debt facility. The debt and equity financings together result in $105 million of incremental capital for the company which fuels growth, funds the launch of an additional reciprocal exchange, and enables investment in new, innovative products that meet the needs of Kin customers.
With over $600 million of inforce premiums and more than $100 billion in total insured property value, Kin serves customers in 13 states, covering more than 50% of the Total Addressable Market. The company, profitable since 2023, delivers rapid growth and healthy operating margins, consistently exceeding the benchmarks set by Rule of 40 and Rule of X.
Insured losses from global natural catastrophes reached $137 billion in 2024 as a rapidly changing climate drives more frequent and severe natural disasters, including wildfires, hurricanes, and floods. Many U.S. insurers incurred losses and stopped selling new business in high-risk states including California, Florida, Texas, and Louisiana, leaving a massive, non-discretionary market of homeowners without adequate protection or competitive options. Kin meets this market demand with its direct-to-consumer model, proprietary technology, and data analysis techniques that enable it to accurately assess and fairly price risk, delivering reliable coverage to these underserved homeowners.
“Insurance is a critical safety net, but it’s disappearing just when people need it most,” said Kin Founder and CEO Sean Harper. “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.”
The lead investors in the Series E round are QED Investors and Activate Capital, with participation from other new and returning investors. The debt financing is led by Wellington Management. The Series E brings the total primary equity raised to $286M, nearly doubles Kin’s previous $1.1 billion valuation, and accelerates its mission to deliver accessible, affordable home insurance everywhere in the United States, including areas where legacy insurers are pulling back.
“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,” said Amias Gerety, partner at QED. “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.”
“Kin’s unique approach allows them to price affordable policies in geographies disproportionately impacted by extreme weather events,” said Eric Meyer, partner at Activate Capital. “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.”
As the climate crisis redefines where and how people live, Kin’s modern, data-rich approach to underwriting and customer engagement positions it as a resilient leader in the future of home insurance. Founded in 2016, Kin helps homeowners protect what matters most in Alabama, Arizona, California, Colorado, Florida, Georgia, Louisiana, Mississippi, Missouri, South Carolina, Tennessee, Texas, and Virginia.
About Kin
Kin is the only direct-to-consumer digital insurance provider focused on the growing homeowners insurance market. Kin offers more convenient and affordable coverage by eliminating the need for external agents. Kin’s technology platform delivers a seamless user experience, customized options for coverage, and fast, high-quality claims service. Behind the scenes, Kin analyzes thousands of data points about each property to provide accurate pricing. To learn more, visit www.kin.com.
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SOURCE Kin
