Kin, a direct-to-consumer home insurer, has closed an oversubscribed $50 million Series E round at a $2 billion pre-money valuation, led by QED Investors and Activate Capital with participation from both new and existing backers.
The Series E brings the total primary equity raised to $286 million, nearly doubles Kin’s previous $1.1 billion valuation, and accelerates its mission to deliver accessible, affordable home insurance everywhere in the United States.
The debt and equity financings together result in $105 million of incremental capital for the insurer, fueling growth, funding the launch of an additional reciprocal exchange, and enabling investment in new products.
Kin has over $600 million of inforce premiums and more than $100 billion in total insured property value, serving customers in 13 states, covering more than 50% of the total addressable market.
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.
Sean Harper, Founder and Chief Executive Officer, Kin, commented, “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 customised 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.”
Amias Gerety, Partner, QED, added, “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.”
Eric Meyer, Partner, Activate Capital, said, “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.”
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