Branch Raises $147 Million at $1.05 Billion Valuation

Branch is a company that provides its clients with bundled auto and home insurance designed to make home and auto insurance simpler and less expensive. The company is a pioneer in the first instant online building capability that aims to save thousands of dollars for people. It is a single company that unites auto and home insurance in a single transaction and the one that binds insurance through an API.

The funding round Series C was led by Weatherford Capital. Among other participants were Acrew, American Family Ventures, Anthemis, Gaingels, Greycroft, HSCM Ventures, Narya, SignalFire, and Tower IV. “What attracted us at the outset hasn’t changed — Branch is one of the first companies to offer embedded home and auto insurance, and delivers massive savings for its members,” Ian Sigalow, co-founder and managing partner at Greycroft.

Branch, Ohio, the USA, was founded by Steve Lekas and Joe Emison in 2017. Branch is unique in the way that it can be embedded into the buying experience. For this, the company partners with mortgage or security system providers for integration at the point of sale in their products. The partner’s list includes Homepoint, OpenRoad Lending, and SimpliSafe. Branch plans to use the raised funding for expansion across the USA. As of now, Branch operates in 28 states, 9 of which have been added this year. “We have a price and a model that no one else can replicate at this stage. And so we’re trying to double down on it and get to scale quickly in all 51 states…,” Steve Lekas, CEO, and co-founder of Branch. Steve Lekas began working at Allstate where his roles were underwriting, technology, and product management.

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