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Lemonade Competitor Hippo Raises Capital at $1.5 Billion Value

  • Dragoneer, Ribbit Capital joined $150 million funding round
  • Insurance tech firm’s CEO preparing for IPO next year
Aerial Views Of Silicon Valley Housing And Tech Campuses
Photographer: Sam Hall/Bloomberg

Hippo Enterprises Inc., hot on the heels of rival home insurance technology business Lemonade Inc. going public, has closed a $150 million financing round.

The Palo Alto, California-based startup is valued in the investment at $1.5 billion, according to the company. New investors Dragoneer and Ribbit Capital joined existing investors like Felicis Ventures and Iconiq Capital in the financing.