Hippo Insurance Services Bundle
Who owns Hippo Insurance Services Company?
Understanding company ownership is key to grasping strategic direction and accountability. This is especially true for technology-focused property insurance providers like Hippo Insurance Services. Founded in 2015 by Assaf Wand and Eyal Navon, the company aimed to modernize the home insurance sector.
Hippo, originally known as Hippo Analytics, is now a publicly traded entity on the New York Stock Exchange under the ticker symbol HIPO. As of August 1, 2025, its market capitalization stood at $638 million, with 25.2 million shares outstanding.
The company's ownership structure is a blend of institutional investors, company insiders, and public shareholders. This dynamic mix influences its strategic decisions and market trajectory. For a deeper look at its market positioning, consider the Hippo Insurance Services BCG Matrix.
Who Founded Hippo Insurance Services?
Hippo Insurance Services was co-founded in 2015 by Assaf Wand and Eyal Navon, aiming to revolutionize the home insurance sector with a technology-centric approach. Wand, who also leads as CEO, brought prior experience from Intel Capital and McKinsey, alongside a successful entrepreneurial venture. Navon contributed expertise in software engineering and R&D to their shared vision.
Founding Vision
The founders envisioned a proactive and digitized insurance experience. This focus on real-time data and smart home technology was key to their strategy.
Key Founders
Assaf Wand, CEO, has a background in investment and consulting. Eyal Navon is an entrepreneur with a strong R&D and software engineering foundation.
Early Funding
The company secured seed funding initially. A Series A round in December 2016 raised $14 million, indicating strong early investor confidence.
Lead Investors
Horizons Ventures and RPM Ventures led the Series A funding round. This provided significant capital for product development and expansion.
Angel Backers
Angel investors, including Michael Ovitz, also contributed to the early financial backing. This diverse support network was crucial for the startup phase.
Ownership Structure
While specific initial equity splits are not public, the reliance on venture capital highlights a typical startup ownership structure. Early investors play a significant role in shaping the company's direction.
The company's early ownership was shaped by its reliance on venture capital to fuel its innovative approach to home insurance. The founders' vision for a tech-forward, customer-centric experience was instrumental in attracting significant investment from firms like Horizons Ventures and RPM Ventures, as well as angel investors. This initial financial backing was critical for developing the platform and establishing its market presence, laying the groundwork for understanding the Revenue Streams & Business Model of Hippo Insurance Services.
Founders and Early Investment
Hippo Insurance Services was established in 2015 by Assaf Wand and Eyal Navon. Their aim was to disrupt the traditional home insurance market through technology.
- Assaf Wand: CEO, former Intel Capital investor, McKinsey consultant, founder of Sabi.
- Eyal Navon: Co-founder, expertise in software engineering and R&D.
- Initial funding: Seed funding followed by a $14 million Series A in December 2016.
- Key investors: Horizons Ventures and RPM Ventures led the Series A round.
- Angel investors: Included Michael Ovitz and ten others.
- Focus: Driven by a vision for a proactive, digitized insurance experience leveraging real-time data and smart home technology.
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How Has Hippo Insurance Services’s Ownership Changed Over Time?
The ownership of Hippo Insurance Services underwent a significant shift when it became a publicly traded entity. This transition was finalized on August 2, 2021, through a business combination with Reinvent Technology Partners Z (RTPZ), leading to its listing on the New York Stock Exchange under the ticker 'HIPO'.
| Major Institutional Shareholders (as of March 31, 2025) | Number of Shares | Approximate Value (as of July 28, 2025) |
|---|---|---|
| BlackRock, Inc. | 1,385,686 | $93.75 million |
| Bond Capital Management, LP | 1,200,128 | $81.19 million |
| Vanguard Group Inc | 1,044,502 | $70.69 million |
| Clal Insurance Enterprises Holdings Ltd | 457,416 | $30.95 million |
| Geode Capital Management, LLC | 448,977 | $30.37 million |
| State Street Corp | 419,229 | $28.35 million |
Following its public debut, Hippo Insurance Services has a diversified ownership base, with institutional investors holding a substantial portion of its shares. As of July 28, 2025, these major institutions collectively owned 10,254,612 shares. Insiders and the company's founders also maintain a significant stake, reflecting their continued commitment to the company's growth. As of July 28, 2025, insiders collectively held 32.99% of Hippo's shares, demonstrating a strong alignment of interests with other shareholders. Understanding the Target Market of Hippo Insurance Services can provide further context on its strategic direction and investor appeal.
Key Stakeholders in Hippo Insurance Services
Hippo Insurance Services' ownership is a mix of institutional and insider holdings, reflecting its status as a publicly traded company.
- Len Fw Investor LLC is the largest individual shareholder with 9.84% ownership.
- Co-founder and CEO Assaf Wand holds 4.60% of the company's shares.
- Insiders collectively own 32.99% of Hippo's shares as of July 28, 2025.
- The company's transition to public trading via a SPAC merger in August 2021 was valued at $5.0 billion.
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Who Sits on Hippo Insurance Services’s Board?
Hippo Holdings Inc.'s board of directors is comprised of key individuals guiding the company's strategic path. As of mid-2025, the board includes CEO and President Richard McCathron, alongside directors Eric Feder, Lori Dickerson Fouché, Hugh R. Frater, Sam Landman, John Nichols, Mark Schaaf, and Sandra Wijnberg.
| Director Name | Role | Joined Board |
|---|---|---|
| Richard McCathron | CEO, President | N/A |
| Eric Feder | Director | October 2018 |
| Lori Dickerson Fouché | Director | May 2021 |
| Hugh R. Frater | Director | N/A |
| Sam Landman | Director | N/A |
| John Nichols | Director | August 2022 |
| Mark Schaaf | Director | August 3, 2023 |
| Sandra Wijnberg | Director | September 2020 |
Voting power within Hippo Holdings Inc. is distributed based on common stock ownership, with each share granting one vote. As of February 20, 2025, there were 25,081,711 shares of common stock outstanding. This structure suggests that control is primarily aligned with shareholdings, without publicly disclosed dual-class share arrangements that would create disproportionate voting rights. The board's composition reflects representation from significant stakeholders, such as Sam Landman, a Managing Director at Mastry Inc., and includes seasoned insurance professionals like John Nichols, whose extensive experience in the insurance sector significantly informs company decisions.
Understanding Ownership and Control
Hippo Insurance Services operates with a standard voting structure where each share of common stock carries one vote. This means that ownership is directly tied to voting power, influencing corporate decisions proportionally.
- Each share of common stock is entitled to one vote.
- As of February 20, 2025, 25,081,711 shares were outstanding.
- No dual-class share structures are publicly indicated.
- Board members may represent major shareholder interests.
- Understanding the Competitors Landscape of Hippo Insurance Services can provide context on market influence.
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What Recent Changes Have Shaped Hippo Insurance Services’s Ownership Landscape?
Over the last few years, the ownership landscape of Hippo Insurance Services has evolved significantly, particularly after its public debut. These changes reflect strategic shifts aimed at focusing on core operations and strengthening financial standing.
| Event | Date | Details |
|---|---|---|
| Public Listing via SPAC Merger | August 2021 | Merged with Reinvent Technology Partners Z, raising over $550 million. |
| Sale of First Connect Insurance Services | October 2024 | Majority stake sold to Centana Growth Partners for $48 million, plus $12 million contingent. Hippo retained a 19.2% stake. |
| Acquisition of Homebuilder Distribution Network | June 2025 (completed July 1, 2025) | Acquired by The Baldwin Group's Westwood Insurance Agency for approximately $100 million. |
These transactions highlight a deliberate strategy to divest non-core assets and bolster financial resources, positioning the company for future growth. The company's financial health has shown improvement, with an 81% reduction in adjusted EBITDA loss to $7.5 million in Q3 2024, and cash reserves reaching $545 million (excluding restricted cash).
Ownership Breakdown
As of July 28, 2025, institutional investors hold 35.24% of the company's shares. Insiders account for 32.99%, with retail investors making up the remaining 31.77%.
Shareholder Actions
The company's board authorized a share repurchase program of up to $50.0 million in March 2023. In October 2024, 957,242 shares were repurchased.
Leadership and Financial Outlook
William Malone joined as Vice President, Head of Agency in October 2024. The company reported a 30% year-over-year increase in Q1 2025 revenue to $110 million.
Strategic Financing and Growth
A $50 million surplus note agreement was signed in Q1 2025 to support product line expansion. The company plans to share long-term growth strategies at its Investor Day on June 12, 2025. Understanding the Marketing Strategy of Hippo Insurance Services is key to appreciating these developments.
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