US InsurTech Hippo has raised $150mn Series E funding.
In Brief:
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The company is now valued at $1.5bn.
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Hippo was founded in 2015 and offers a bespoke insurance platform.
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Investors included Comcast Ventures, Felicis Ventures, Fin TLV and Ribbit Capital.
What does this mean?
Hippo, which is a main rival to Lemonade, has reported strong growth over the past three years. It will use the funding for continued expansion in the US where it aims to reach 95% of the population within 21 months.