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
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- Legal Name Root, Inc.
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Annual Revenue
$1.18 B (USD)158.57as on Dec 31, 2024
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Net Profit
$30.9 M (USD)0as on Dec 31, 2024
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EBITDA
Not available
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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.
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.
People of Root Insurance
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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.
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.
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Venture capital investment firm
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Venture capital firm focused on pre-seed and seed stage investments
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Investor details for Root Insurance
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Investments & Acquisitions by Root Insurance
Investment portfolio details for Root Insurance
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Financial Statements - Root Insurance
Detailed financials for Root Insurance
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Root Insurance Comparisons
Peer comparison for Root Insurance
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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.
| Company Name | Domain | Founded year | HQ Location | Description |
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Automotive insurance is delivered via an online platform.
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AI-enabled platform offering driver behavior monitoring and analysis solutions
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App that provides usage-based auto insurance platform for individuals
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Usage-based data monitoring solutions for the auto insurance industry
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Telematics-based data & monitoring solutions for auto insurers and fleet owners
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AI-based driving habits are monitored for insurance insights.
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Detailed competitors of Root Insurance
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Latest news on Root Insurance
Complete news archive for Root Insurance
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Frequently Asked Questions about Root Insurance
Root Insurance was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Root Insurance is headquartered in Columbus, United States. It is registered at Columbus, Ohio, United States.
Alexander Timm is the current CEO of Root Insurance. They have also founded this company.
Root Insurance is a funded company, having raised a total of $539.5M across 5 funding rounds to date.
As of Dec 31, 2024, the latest employee count at Root Insurance is 1,020.
Annual revenue of Root Insurance is $1.18B as on Dec 31, 2024.
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.
Root Insurance's top competitors include Clearcover, Metromile and Sigo Insurance.
Root Insurance offers Car Insurance, Renters Insurance, Homeowners Insurance, and Roadside Assistance.
Yes, Root Insurance is publicly traded on NASDAQ under the ticker symbol ROOT.
Root Insurance has 8 investors. Key investors include SVB, Ribbit Capital, Coatue, DST Global Partners, and Drive Capital.
The ticker symbol of Root Insurance is ROOT on NASDAQ.