The company also secured a $200 million debt facility, $145 million of which was used to refinance existing debt. Together, the debt and equity financings add $105 million in fresh capital to support Kin’s growth, launch of a new reciprocal exchange, and expansion into additional products.
The Series E was led by QED Investors and Activate Capital, with participation from both new and existing investors. Wellington Management led the debt financing. With this round, Kin has now raised $286 million in primary equity and nearly doubled its valuation from $1.1 billion.
Founded in 2016, Kin currently serves homeowners in 13 states, representing more than half of the U.S. home insurance market. The company insures over $100 billion in property value and has more than $600 million of in-force premiums. Kin has been profitable since 2023, with growth metrics surpassing industry benchmarks like the Rule of 40.
Kin positions itself as a critical provider in a market where many traditional insurers have pulled back due to mounting catastrophe losses. Global insured losses from natural disasters hit $137 billion in 2024, leaving homeowners in high-risk states such as California, Florida, and Louisiana with fewer coverage options. Kin leverages proprietary technology and data analytics to assess and price risk more accurately, offering coverage to homeowners who might otherwise be underserved.
“Insurance is a critical safety net, but it’s disappearing just when people need it most,” said Sean Harper, founder and CEO of Kin. “We’ll use this funding round to expand in markets most affected by natural disasters in a way that’s sustainable, scalable, and customer-focused.”
Investors underscored Kin’s role in addressing the coverage gap. “Kin fills a gap impacting millions of Americans that will intensify for the foreseeable future,” said Amias Gerety, partner at QED Investors. “They’re showing that technology can help humanity adapt to extreme weather with precision, efficiency, and empathy.”
Eric Meyer, partner at Activate Capital, added: “Kin’s unique approach allows them to price affordable policies in geographies disproportionately impacted by extreme weather events. They’re not just writing policies; they’re offering a vital financial service to homeowners who need it most.”
As climate risks reshape housing markets, Kin aims to expand its presence nationwide with a modern, data-driven approach to underwriting and customer service.
