The Zebra, a home and auto insurance comparison website, has raised $150 million in a Series D fundraising round, which valued the company at over $1 billion.
Investors in the insurance comparison service include Accel, Silverton Partners, Ballast Point Ventures, Daher Capital, Floodgate Fund, Weatherford Capital, KDT, The Zebra’s own CEO Keith Melnick, and others.
A company release said that The Zebra has raised over $250 million to date, including seed funding.
“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,” said The Zebra CEO Keith Melnick.
“As one of the earliest investors in The Zebra, this inflection point in the company’s history is something I’ve been eagerly anticipating,” commented Mark Cuban, entrepreneur and governor of the Dallas Mavericks.
Cuban added in a statement that the word “startup” no longer applies to The Zebra, calling the company a “full-fledged tech company that is taking on – and solving – some of the biggest challenges in the $638 billion insurance industry.”
Despite the pandemic, The Zebra reported net revenue growth from $37 million in 2019 to $79 million in 2020. The company has also grown in size since early 2020, from about 200 employees to over 325 during its transition into a fully-remote work environment.