#InsurTech / Lemonade rival Hippo raises $150m financing round

Hippo Enterprises, a competitor to home insurance technology business Lemonade, has closed a $150 million financing round…

Hippo, which was valued at about $1 billion in a funding round last year, is preparing for a potential initial public offering… [CEO:] “In 2021, we’ll be ready to go public,” … Lemonade, a homeowner insurance provider backed by SoftBank Group, has seen its stock almost triple since going public this month.

Insurance technology firms have continued to rake in funds, with $912 million raised globally by those companies in the first quarter of 2020, according to a report from Willis Towers Watson.