# Root

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/root

- Industry: Insurance
- Headquarters: Columbus, US
- Website: www.joinroot.com
- Total disclosed funding: $511M
- Latest round: Series E (Aug 19, 2019)
- Investors on record: 8

## About

Root, Inc. is an innovative auto insurance company that utilizes mobile technology to provide personalized insurance solutions based on actual driving behavior, targeting safe drivers for competitive coverage options.Founded in 2015 and headquartered in Columbus, US, Root, Inc. specializes in auto insurance and has conducted 9 deals, with its most recent transaction being a TRADE SALE of USD 126.00 mn on October 27, 2020. The company was co-founded by Alex Timm, Dan Manges, Hiroshi Sasaki, Jim Haudan, and Keisuke Kishi, with Timm currently serving as CEO. The company has not reported any changes in its business strategy or operations since its inception, nor does it have known subsidiaries or parent companies.Root Insurance Company focuses on auto insurance, utilizing a proprietary app that assesses driving habits via smartphones. This technology allows Root to provide personalized insurance quotes based on individual driving behaviors, rather than traditional demographic factors. The target market consists of safe drivers, including individuals with clean driving records, who can benefit from lower premiums. Root's services are available across multiple states in the U.S., aiming to provide competitive rates and innovative coverage solutions, challenging conventional auto insurance practices.In the most recent financial year of 2024, Root Insurance reported a revenue of USD 1,070.90 mn and an EBITDA of USD 114.40 mn. The company operates on a direct-to-consumer model, where customers receive quotes after a period of monitored driving behavior and pay premiums upfront, structured over six-month terms.Root, Inc. plans to leverage its recent funding from its TRADE SALE of USD 126.00 mn on October 27, 2020, to enhance its product offerings and expand into new markets. The company is actively designing new insurance products targeted for launch in the coming years and aims to extend its reach into additional states across the U.S. to better serve a wider customer base seeking car insurance solutions.

## Funding rounds

- Series E, Aug 19, 2019, $360M — Redpoint Ventures, Scale Venture Partners, Tiger Global Management, Coatue Management, DST Global, Ribbit Capital, Drive Capital
- Series D, Aug 22, 2018, $100M — Redpoint Ventures, Scale Venture Partners, Tiger Global Management, Ribbit Capital
- Series C, Mar 27, 2018, $51M — Redpoint Ventures, SVB Capital, Scale Venture Partners, Ribbit Capital

## Investors

- Redpoint Ventures (https://capitalatlas.ai/funds/redpoint-ventures) — Series C, Series D, Series E
- SVB Capital (https://capitalatlas.ai/funds/svb-capital) — Series C
- Scale Venture Partners (https://capitalatlas.ai/funds/scale-venture-partners) — Series C, Series D, Series E
- Ribbit Capital (https://capitalatlas.ai/funds/ribbit-capital) — Series C, Series D, Series E
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series D, Series E
- Coatue Management (https://capitalatlas.ai/funds/coatue-management) — Series E
- DST Global (https://capitalatlas.ai/funds/dst-global) — Series E
- Drive Capital (https://capitalatlas.ai/funds/drive-capital) — Series E