Kin Insurance raises $50 million Series E at $2 billion valuation

Kin Insurance has announced the successful raising of an oversubscribed $50 million Series E at a $2 billion pre-money valuation. Additionally, the company secured a $200 million debt facility, resulting in a total addition of $105 million in capital aimed at supporting growth, launching a reciprocal exchange, and investing in new insurance products.

According to the company's press release, Kin reinforced its financial position through both equity and debt financing. The $50 million Series E round was oversubscribed, valuing Kin at $2 billion pre-money. The $200 million debt facility provided incremental capital after repaying existing obligations. In total, Kin gained $105 million in new resources to expand operations, launch an additional reciprocal exchange, and accelerate innovation in home insurance products.

Kin's growth metrics indicate its ability to scale while remaining profitable. According to TechCrunch, the company manages over $600 million in in-force premiums and protects more than $100 billion in total insured property value. This reach extends to over 50% of the U.S. total addressable market. Having been profitable since 2023, Kin consistently exceeds benchmarks such as the Rule of 40, underscoring both its efficiency and resilience in a challenging insurance climate.

The fundraising occurs amidst climate-driven natural disasters reshaping the insurance market landscape. According to Swiss Re Institute, insured global catastrophe losses totaled $137 billion in 2024—one of the costliest years on record—as wildfires, floods, and hurricanes increased in frequency and intensity. While many insurers have scaled back operations in high-risk states like California, Florida, and Texas, Kin continues expanding into these regions by leveraging proprietary data and technology for more accurate risk assessment and pricing.

Kin is a digital-first, direct-to-consumer home insurance provider founded in 2016 with headquarters in Chicago. According to its official site, Kin currently operates in 13 states including Florida, California, Texas, and Louisiana. It has grown to serve over half of the national total addressable market for homeowners insurance. Its mission is to make insurance affordable, accessible, and transparent by using technology to deliver efficient and personalized coverage in underserved and disaster-prone markets.