Company Profile
Root Inc.
Company Overview
Root believes that the everyday services people need should serve
them better. To that end, Root has designed simple, hassle-free
insurance to protect the things that matter most—all in an
easy-to-use app.
Unlike traditional insurance companies that base car insurance rates
on demographics, Root uses smartphone technology to base rates
primarily on driving behavior. As a result, good drivers can get better
rates. Root also offers renters insurance, providing customers with
seamless, mobile-based coverage that’s simple and affordable.
Company History
Root sold its first policy in 2016. In 2019, direct written premium grew
to more than $451 million, a 351% increase from 2018. Root reached
a $3.65 billion valuation in its series E financing round, completed in
September of 2019.