Insurtech Kin just pulled in serious backing. The direct-to-consumer home insurer closed an oversubscribed $50mn Series E round at a $2bn pre-money valuation.
QED Investors and Activate Capital led the raise, with both fresh and returning investors jumping in.
At the same time, Kin secured a $200mn debt facility led by Wellington Management. Out of that, $145mn went straight to pay off an older loan, leaving $55mn in fresh debt capital.
Combined with the equity round, the insurer nets $105mn of incremental capital to expand operations, launch a new reciprocal exchange, and invest in products it says will keep coverage affordable.
The Series E bumps Kin’s total primary equity raised to $286mn. That number nearly doubles the valuation it set at $1.1bn in its last round. According to the company, growth has been sharp: $600mn of in-force premiums, more than $100bn in insured property value, and customers spread across 13 states — covering over half the U.S. addressable market.
Context matters. Global natural catastrophe losses hit $137bn in 2024, driven by climate-fueled hurricanes, floods, and wildfires.
Insurers across the U.S. have scaled back or stopped writing new business in California, Florida, Texas, and Louisiana. That vacuum leaves homeowners without options, even as exposure climbs.
Sean Harper, Kin’s CEO, says insurance is collapsing where people need it most. His pitch: Kin’s model uses data and analysis to evaluate risk at the level of an individual home.
That lets the company sell policies in fragile geographies where traditional carriers retreat. He framed the new funding as fuel to expand sustainably into disaster-prone states.
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.
Sean Harper, Founder and Chief Executive Officer, Kin
“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,” Sean Harper commented.
Investors see the same opportunity. QED’s Amias Gerety called Kin’s strategy both necessary and bold, pointing to a broken market where legacy insurers can’t keep up with extreme weather. For him, Kin’s direct-to-consumer approach offers scale without waste.
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.
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,” said Amias Gerety.
Activate Capital’s Eric Meyer made it sharper. He said Kin isn’t just writing policies, it’s stepping into the role of financial first responder. By pricing coverage where others won’t, Kin positions itself as both insurer and problem-solver for homeowners stuck in exposed regions.
Kin’s unique approach allows them to price affordable policies in geographies disproportionately impacted by extreme weather events
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,” said Eric Meyer.
Between equity, debt, and a tough macro backdrop, Kin has turned itself into one of the few growth-stage insurance tech companies pushing forward in high-risk markets. $2bn valuation signals investors think the bet still holds.
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.
Kin announced it surpassed $100 bn in total insured property value. This achievement reinforces Kin’s position as the leading tech-forward direct-to-consumer homeowners insurance provider and reflects its accelerated growth trajectory.
Kin grew total insured value (TIV) from $10 bn to $100 bn and significantly strengthened its financial foundation in the last four years.
Between 2021 and 2024, the reciprocal exchanges managed by Kin decreased their gross adjusted loss ratio, net of excess of loss recoveries, from 66.6% to 25.9%, underscoring improvements in underwriting performance, pricing sophistication, and risk selection.
In tandem with TIV growth, Kin-managed reciprocal exchanges achieved positive adjusted net income in 2024. This reflects strong operational execution and a sustainable business model aligned with policyholder interests.
“Reaching $100 bn in insured property value represents a pivotal moment in Kin’s journey,” said Sean Harper, co-founder and CEO of Kin.
It’s proof that our approach to home insurance — combining cutting-edge proprietary technology with differentiated, customer-centered service — resonates deeply with homeowners across the country.
In 2021, 95% of Kin’s total insured property value was concentrated in Florida. As of 2024, Florida represents just 75% of total insured property value, a direct result of Kin’s geographic expansion and risk diversification strategy.
The company successfully launched operations in multiple catastrophe-exposed states, including California, while maintaining its commitment to insuring underserved homeowners.
“Reducing geographic concentration enhances portfolio resilience and manages risk,” said Angel Conlin, Chief Insurance Officer. “We diversified while still growing in our core markets. With weather volatility rising in many areas of the United States, more and more customers need Kin.”
