Investors Double Down with $38.5M Series C as The Zebra Crosses $60M Run Rate
Company’s 194% YoY Revenue Growth On Heels Of New Homeowners Line Extension, Consumer Privacy Pledge, And 3x Headcount
AUSTIN, Texas - February 5, 2020 - The Zebra, the nation's leading insurance comparison site, today announced revenue growth numbers and a $38.5 million Series C fundraising round. The funding rounding is led by Accel, and includes other current investors Silverton Partners, Daher Capital, Floodgate Fund, Ballast Point Ventures, The Zebra’s CEO Keith Melnick and new partner Weatherford Capital.
As the nation's largest insurance comparison site with over 1.3 million website visitors per month, The Zebra’s revenue has seen very strong growth. The company’s revenue grew almost 200% year over year to nearly $37 million in 2019. Their annual run rate is now exceeding $60 million, more than half of which is driven by users coming organically to The Zebra’s website. Revenue is expected to grow well over 100% in 2020.
“2019 was a great year for The Zebra with outstanding growth and I couldn’t be more pleased with where we are headed into 2020,” says Keith Melnick, CEO, The Zebra. “We have a great team, a great product that keeps getting better, a fantastic group of investors and are positioned to continue our exponential growth in 2020.”
The Zebra’s success highlights its dominance in the space, including key differentiators:
- The Zebra provides the most choice for comparison shoppers, working with more than 100 auto insurance carriers.
- Customers are not limited to traditional constraints, as The Zebra compares their options across direct, captive and independent agent model carriers.
- The Zebra has eliminated any requirements for a user’s phone number to ensure The Zebra was not responsible for any unwanted spam calls consumers may receive.
- If a customer would like to speak to an agent for questions or to bind a policy, The Zebra’s full-service team of licensed agents can assist day or night.
"I think The Zebra is the most interesting company in insurtech and one of the fastest growing consumer businesses we work with globally. Over time, I think consumers - whether they're buying insurance products from 200 year old companies or startups - are going to want to compare options and get the best price possible. We expect The Zebra will be the first place consumers go when they want to buy insurance," says John Locke, Partner at Accel.
Momentum from last year’s rapid pace fuels The Zebra’s goals for 2020, which include:
- Expanding product reach by continuing to grow and optimize The Zebra’s new homeowners insurance comparison product, working with some of the nation’s top and most innovative homeowners insurance carriers. Adding a bundling feature and expanding into other verticals like renters insurance are anticipated in 2020.
- Better serving users by making it easier to buy insurance. This includes facilitating more transactions and creating tools to help users find the best product for them. Creating a virtual insurance agency will provide more breadth that a typical offline agency can today.
- Maximizing efficiencies using machine learning and data science to get the best options and information in front of users and to further optimize traffic acquisition
- Maintaining status as one of the best places to work. The company recently implemented a 20 weeks fully paid parental leave policy and moved into a 43,000-square-foot custom built office on Austin’s East Side with capacity for 300 employees. The Zebra has tripled their workforce in two years with a current headcount of 199.
About The Zebra
The Zebra is the nation's leading, independent insurance comparison site. With its dynamic, real-time quote comparison tool, drivers can identify insurance companies with the coverage, service level, and pricing to suit their unique needs. The Zebra compares more than 100 insurance companies and provides agent support and educational resources to ensure drivers are equipped to make the most informed decisions about their home and auto insurance. Headquartered in Austin, Texas, The Zebra has sought to bring transparency and simplicity to insurance shopping since 2012 — it's "insurance in black and white."