About Root Insurance
Root Insurance is a company based in Columbus (United States) founded in 2015 by Alexander Timm. It operates as a Subscription Services, and Pay-per-Use / Usage-Based. Root Insurance has raised $539.5 million across 5 funding rounds from investors including SVB, Ribbit Capital and Coatue. The company has 1,020 employees as of December 31, 2024. Root Insurance offers products and services including Car Insurance, Renters Insurance, Homeowners Insurance, and Roadside Assistance. Root Insurance operates in a competitive market with competitors including Clearcover, Zendrive, Metromile, Cambridge Mobile Telematics and HDVI, among others.
- Headquarter Columbus, United States
- Employees 1020 as on 31 Dec, 2024
- Founders Alexander Timm
- 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
*********
- Legal Name Root, Inc.
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Annual Revenue
$1.18 B158.57as on Dec 31, 2024
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Net Profit
$30.9 M0as on Dec 31, 2024
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EBITDA
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Total Equity Funding
$539.5 M (USD)
in 5 rounds
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Latest Funding Round
$360 M (USD), Series E
Aug 20, 2019
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Investors
SVB
& 7 more
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Employee Count
1020
as on Dec 31, 2024
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IPO & Listings of Root Insurance
Root Insurance is a publicly listed company on the NASDAQ with ticker symbol ROOT 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 Root Insurance
Root Insurance offers a comprehensive portfolio of products and services, including Car Insurance, Renters Insurance, Homeowners Insurance, and Roadside Assistance. 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.
Car insurance is provided based on driving behavior.
Renters insurance is offered for personal property protection.
Homeowners insurance is available for property and safety.
Roadside assistance is provided for emergency roadside needs.
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Software Development Team
394 people
Leadership Team
374 people
Senior Team
259 people
Sales and Marketing
80 people
Human Resources and Administration
72 people
Strategy Team
72 people
Product Management Team
56 people
Operations Team
47 people
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Funding Insights of Root Insurance
Root Insurance has successfully raised a total of $539.5M across 5 strategic funding rounds. The most recent funding activity was a Series E round of $360 million completed in August 2019. 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 5
- Last Round Series E — $360.0M
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First Round
First Round
(26 Oct 2016)
- Investors Count 8
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2019 | Amount | Series E - Root Insurance | Valuation | Coatue , DST Global | |
| Aug, 2018 | Amount | Series D - Root Insurance | Valuation | Tiger Global Management | |
| Mar, 2018 | Amount | Series C - Root Insurance | Valuation | Redpoint Ventures |
| 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 Root Insurance
Root Insurance has secured backing from 8 investors, including venture fund and institutional investors. Prominent investors backing the company include SVB, Ribbit Capital and Coatue. 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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Provider of an investment platform for various stages
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Founded Year | Domain | Location | |
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Venture capital investment firm
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Founded Year | Domain | Location | |
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Venture capital firm focused on pre-seed and seed stage investments
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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 Root Insurance
| 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 |
Financial Statements - Root Insurance
| 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 |
Root Insurance Comparisons
Competitors of Root Insurance
Root Insurance 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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| domain | founded_year | HQ Location |
AI-based driving habits are monitored for insurance insights.
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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 Root Insurance
Frequently Asked Questions about Root Insurance
When was Root Insurance founded?
Root Insurance was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Where is Root Insurance located?
Root Insurance is headquartered in Columbus, United States. It is registered at Columbus, Ohio, United States.
Who is the current CEO of Root Insurance?
Alexander Timm is the current CEO of Root Insurance. They have also founded this company.
Is Root Insurance a funded company?
Root Insurance is a funded company, having raised a total of $539.5M across 5 funding rounds to date. The company's 1st funding round was a Series C of $51M, raised on Oct 26, 2016.
How many employees does Root Insurance have?
As of Dec 31, 2024, the latest employee count at Root Insurance is 1,020.
What is the annual revenue of Root Insurance?
Annual revenue of Root Insurance is $1.18B as on Dec 31, 2024.
What does Root Insurance do?
Root Insurance is focused on providing car insurance tailored to driving behavior. Rates are primarily determined using mobile technology to assess driving habits through the Root app. Coverage options include car, renters, and homeowners insurance, along with roadside assistance. The company operates across multiple states in the United States, offering savings based on safe driving. Policies and claims are managed conveniently via the app, ensuring accessibility and ease for customers in the insurance sector.
Who are the top competitors of Root Insurance?
Root Insurance's top competitors include Clearcover, Metromile and Sigo Insurance.
What products or services does Root Insurance offer?
Root Insurance offers Car Insurance, Renters Insurance, Homeowners Insurance, and Roadside Assistance.
Is Root Insurance publicly traded?
Yes, Root Insurance is publicly traded on NASDAQ under the ticker symbol ROOT.
Who are Root Insurance's investors?
Root Insurance has 8 investors. Key investors include SVB, Ribbit Capital, Coatue, DST Global Partners, and Drive Capital.
What is Root Insurance's ticker symbol?
The ticker symbol of Root Insurance is ROOT on NASDAQ.