Auto and homeowners insurance comparison site transitions from startup to established tech company
AUSTIN, Texas - April 12, 2021 - The Zebra, the nation’s leading insurance comparison site, announces a Series D fundraise totalling $150 million, valuing the company at more than $1 billion. The company’s fundraise comes at a time of sustained growth, with investment from new and former investors including Weatherford Capital and Accel.
The Zebra’s performance grew significantly in 2020 despite the COVID 19 pandemic and is continuing steady growth. Net revenue grew from $37M in 2019 to $79M in 2020, with a current annual run rate of $150M. Monetization unit economics continue to rise 100% year over year. The Zebra’s headcount has increased nearly 60% since early 2020, from approximately 200 to more than 325 employees during the temporary pivot to a fully-remote model for the duration of the pandemic.
“This investment is going to be used to grow our team and build our brand. We are accelerating our efforts to make The Zebra a household name and help educate, empower and advise consumers to find the best policies for their unique needs, no matter where they are in their lives,” says Keith Melnick, CEO, The Zebra.
“As one of the earliest investors in The Zebra, this inflection point in the company’s history is something I've been eagerly anticipating. ‘Startup’ isn’t the right word anymore. The Zebra is a full fledged tech company that is taking on - and solving - some of the biggest challenges in the $638B insurance industry," says Mark Cuban, Entrepreneur and Governor of the Dallas Mavericks.
The company's methodical and strategic planning ensures continued expansion of programs put in place in the last year, including: increasing consumer awareness through a national advertising campaign, adding additional tools and information to better serve consumers as their insurance advisor, expanding home and auto bundling capabilities and continuing to create personalized experiences including results informed by machine learning.
The Zebra’s investors include Accel, Silverton Partners, Ballast Point Ventures, Daher Capital, Floodgate Fund, The Zebra’s CEO Keith Melnick, Weatherford Capital, KDT and others. The Zebra has raised more than $250M to date, including seed funding.
“We’ve been working with The Zebra since 2017 and the team is hitting their stride. As more of the insurance market goes digital, anyone who needs insurance will be able to successfully start their insurance search with us,” says John Locke, Partner, Accel.
The company’s culture has earned awards and accolades including Best Place to Work recognition from national and local outlets like Inc. and the Austin Business Journal, for benefits such as 20 weeks company-paid parental leave following birth or adoption of a child, pet adoption reimbursement, monthly wellness stipend, flexible and unlimited time off and more traditional benefits like 401(k) matching and employer-paid health insurance.
About The Zebra
The Zebra is the nation's leading, independent insurance comparison site. With its dynamic, real-time quote comparison tool, consumers can identify insurance companies with the coverage, service level, and pricing to suit their unique needs. The Zebra compares multiple insurance companies and provides agent support and educational resources to ensure consumers 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."