News Briefs

Insurance start-up Branch grows into unicorn

The round was led by Weatherford Capital, with participation from Greycroft and others.

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  • The new round brings Branch’s valuation up to $1.05 billion
  • Round was led by Weatherford Capital, with participation from Acrew, AmFam Ventures, Anthemis, Gaingels, Greycroft, HSCM Ventures, Narya, SignalFire and Tower IV
  • Branch was launched in 2019 by insurance vet Steve Lekas and tech entrepreneur Joe Emison

Branch, a home and auto insurance provider, announced a $147 million Series C round led by Weatherford Capital.

The Columbus-headquartered company was launched in 2019 by Steve Lekas and Joe Emison, with the aim to of making insurance more affordable. It manages an insurance exchange that is owned by its members.

This year, Branch has expanded into nine new states, making its solutions available in 28 states.

“Consumers are frustrated by escalating insurance costs resulting from antiquated business models and complex processes,” Steve Lekas, Branch co-founder and CEO said in a press release.

“We believe that by reintroducing the power of community through data and technology, we can lower the cost of insurance while restoring it to its original intent: a force for communal good,” he said.