About Hagerty
Hagerty is a company based in Traverse City (United States) founded in 1983 by Kim Hagerty.. Hagerty has raised $212.5 million across 2 funding rounds from investors including State Farm, Markel Corporation and Markel. The company has 1,740 employees as of December 31, 2024. Hagerty has completed 9 acquisitions, including Broad Arrow Group, California Mille and Classics & Exotics. Hagerty offers products and services including Insurance, Valuation Tools, and Marketplace. Hagerty operates in a competitive market with competitors including Clearcover, Zendrive, Metromile, Cambridge Mobile Telematics and HDVI, among others.
- Headquarter Traverse City, United States
- Employees 1740 as on 31 Dec, 2024
- Founders Kim Hagerty
- Stage Public
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Sectors
Transportation, Automotive & LogisticsFinancial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Hagerty, Inc.
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Annual Revenue
$1.19 B17.76as on Dec 31, 2024
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Net Profit
$17.02 M-15.89as on Dec 31, 2024
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EBITDA
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Total Equity Funding
$212.5 M (USD)
in 2 rounds
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Latest Funding Round
$80 M (USD), Post-IPO
Jun 23, 2023
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Investors
State Farm
& 2 more
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Employee Count
1740
as on Dec 31, 2024
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Investments & Acquisitions
Broad Arrow Group
& 8 more
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IPO & Listings of Hagerty
Hagerty is a publicly listed company on the NYSE with ticker symbol HGTY in USA, operating in the Finance sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Hagerty
Hagerty offers a comprehensive portfolio of products and services, including Insurance, Valuation Tools, and Marketplace. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Provides coverage for classic and collectible vehicles.
Offers guides for valuing classic cars and vehicles.
Platform for auctioning and selling classic vehicles.
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Software Development Team
53 people
Leadership Team
24 people
Product Management Team
16 people
Human Resources and Administration
15 people
Legal and Compliance
10 people
Finance and Accounting
9 people
Senior Team
9 people
Operations Team
6 people
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Funding Insights of Hagerty
Hagerty has successfully raised a total of $212.5M across 2 strategic funding rounds. The most recent funding activity was a Post-IPO round of $80 million completed in June 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Post-IPO — $80.0M
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First Round
First Round
(01 Aug 2019)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2023 | Amount | Post-IPO - Hagerty | Valuation |
investors |
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| Aug, 2019 | Amount | Private Equity Round - Hagerty | Valuation | Markel |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Hagerty
Hagerty has secured backing from 3 investors, including institutional investors. Prominent investors backing the company include State Farm, Markel Corporation and Markel. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Insurance and financial services are provided to individuals and businesses.
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Founded Year | Domain | Location | |
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Insurance and reinsurance holding services are provided to clients.
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Hagerty
Hagerty has strategically engaged in corporate development activities, having acquired 9 companies. Notable acquisitions include Broad Arrow Group, California Mille and Classics & Exotics. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Provider of car collectors services
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2021 | ||||
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Peer-to-peer rentals of classic and exotic cars are enabled online.
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2014 | ||||
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Offers custom websites and software for collector car businesses and enthusiasts.
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2012 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Hagerty
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Hagerty Comparisons
Competitors of Hagerty
Hagerty operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Clearcover, Zendrive, Metromile, Cambridge Mobile Telematics and HDVI, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Automotive insurance is delivered via an online platform.
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| domain | founded_year | HQ Location |
AI-enabled platform offering driver behavior monitoring and analysis solutions
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| domain | founded_year | HQ Location |
App that provides usage-based auto insurance platform for individuals
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| domain | founded_year | HQ Location |
Usage-based data monitoring solutions for the auto insurance industry
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| domain | founded_year | HQ Location |
Telematics-based data & monitoring solutions for auto insurers and fleet owners
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Hagerty
Frequently Asked Questions about Hagerty
When was Hagerty founded?
Hagerty was founded in 1983 and raised its 1st funding round 36 years after it was founded.
Where is Hagerty located?
Hagerty is headquartered in Traverse City, United States. It is registered at Traverse City, Michigan, United States.
Who is the current CEO of Hagerty?
McKeel Hagerty is the current CEO of Hagerty.
Is Hagerty a funded company?
Hagerty is a funded company, having raised a total of $212.5M across 2 funding rounds to date. The company's 1st funding round was a Private Equity Round of $212.5M, raised on Aug 01, 2019.
How many employees does Hagerty have?
As of Dec 31, 2024, the latest employee count at Hagerty is 1,740.
What is the annual revenue of Hagerty?
Annual revenue of Hagerty is $1.19B as on Dec 31, 2024.
What does Hagerty do?
Hagerty was established in 1983 in Traverse City, United States, within the insurance sector. Operations focus on automotive coverage, including policies for classic and specialty vehicles. Services are extended to users requiring tailored protection against risks. The company is led by CEO McKeel Hagerty, with foundational ties to Kim Hagerty. Activities remain centered in the United States, supporting enthusiast communities through domain hagerty.com.
Who are the top competitors of Hagerty?
Hagerty's top competitors include Clearcover, Metromile and Cambridge Mobile Telematics.
What products or services does Hagerty offer?
Hagerty offers Insurance, Valuation Tools, and Marketplace.
Is Hagerty publicly traded?
Yes, Hagerty is publicly traded on NYSE under the ticker symbol HGTY.
How many acquisitions has Hagerty made?
Hagerty has made 9 acquisitions, including Broad Arrow Group, California Mille, and Classics & Exotics.
Who are Hagerty's investors?
Hagerty has 3 investors. Key investors include State Farm, Markel Corporation, and Markel.
What is Hagerty's ticker symbol?
The ticker symbol of Hagerty is HGTY on NYSE.
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