Closely held Embedded Insurance has made multiple approaches and offered to acquire Carvana-backed Root for $19.34 a share, the people said.
Tag: Root insurance
Root Insurance Investigating $9.5 Million Vendor Payments by Former Employee
Root Inc. has launched an internal investigation into at least $9.5 million in “inappropriate” vendor payments.
Car Insurance Start-up Root Hires Goldman Sachs to Lead IPO
Root Insurance Co has hired Goldman Sachs Group Inc. to lead preparations for an initial public offering that could value the provider of auto insurance through mobile apps at around $6 billion, according to people familiar with the matter. The listing would make Root the latest technology-powered insurance provider to go public. In May, insurance… Continue reading Car Insurance Start-up Root Hires Goldman Sachs to Lead IPO
Root Insurance Rings in 2020 by Celebrating Safe Drivers and Savings
In 2019, Root Insurance, the first insurance company powered entirely by mobile, continued to reward safe driving behavior with fair rates based on actual driving behavior. Now in 29 states, Root measured more than 4.5 billion miles in 2019 and found that while driving is getting riskier overall, with more sharp turns, late night driving,… Continue reading Root Insurance Rings in 2020 by Celebrating Safe Drivers and Savings
Auto-Insurance Startup Root Rides Growth to $3.65 Billion Valuation
Auto-insurance startup Root Insurance Co. is completing a new round of capital raising that would value the company at $3.65 billion, a person familiar with the situation said. New investors DST Global and Coatue Management are leading the investment of $350 million, with all the company’s existing backers also planning to participate, the person said.… Continue reading Auto-Insurance Startup Root Rides Growth to $3.65 Billion Valuation