Hey everyone, Spencer Hsu here, your Tech Realtor of the Bay Area.
Welcome to my new PropTech Talk Thursday series to take a look and provide my candid thoughts on new Proptech businesses. These could range from products to companies leveraging technology to improve all facets of real estate. The Real Estate industry is one of the slowest to adopt technology but there are many opportunities along with money chasing these opportunities. This week, let’s take a look at Hippo Insurance.
Hippo Insurance, based in Palo Alto, CA, recently raised $150 million in a new round of funding in July, bringing its total funding to $359M, and a valuation of $1.5 billion. They started their business in 2015 and have grew to $270MM in premiums written. How does this compare to the industry? Take a look here at the top 10 insurance providers. They are currently at 0.27% of the US market so on one end, there is a lot of room to grow, but at the same time, it’s a tiny fraction of these well known providers.
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Born and raised in the Bay Area, I spent 11 years as an Enterprise Sales Manager before becoming the Tech Realtor of the Bay Area. Having the background as a homeowner, investor, and renovator, I leverage data and insights to help all of my clients gain a competitive advantage with their real estate journey. Communication is key for me so as long as I'm awake, you will get a reply from me. I have helped 23 families within the last 12 months for over $27MM in delighted transactions and I look forward to help you too.
Spencer Hsu, MBA
Tech Realtor
Spencer@SpencerHsu.com
(408)223-5493
EXP Realty DRE #02077253
www.homesbyspencerhsu.com