OverviewSuggest Edit
Root Insurance is a company that provides car insurance services. It uses smartphone technology and data science to understand actual driving behavior and determines personal automobile insurance rates allowing consumers to get car insurance based on their driving habits.
| Type | Public | |
| Founded | 2015 | |
| HQ | Columbus, OH, US | Map |
| Website | joinroot.com | |
| Employee Ratings | More | |
| Overall Culture | A | More |
Key People/Management at Root
Alex Timm
Co-Founder & CEO
Lauren Gruenebaum
Chief Product Officer
Dan Manges
Co-Founder & CTO
Kelly Ruoff
Chief Brand Officer
Daniel Rosenthal
Chief Financial Officer
David Martin
Chief Data Scientist
Root Office Locations
Root has an office in Columbus
Columbus, OH, US (HQ)
80 E Rich St #500
Root Financials and Metrics
Root Revenue
Root's revenue was reported to be $290.2 m in FY, 2019 which is a 570.2% increase from the previous period.
| USD | |
|---|---|
Revenue (Q2, 2020) | 121.4m |
Gross profit (Q2, 2020) | 8.8m |
Gross profit margin (Q2, 2020), % | 7.2% |
Market capitalization (4-Jun-2021) | 2.4b |
Closing stock price (4-Jun-2021) | 9.5 |
Cash (30-Jun-2020) | 240.9m |
EV | 2.4b |
Root's current market capitalization is $2.4 b.
Annual
Annual
| USD | FY, 2018 |
|---|---|
Revenue/Employee | 335.4k |
Debt/Equity | -0.1 x |
Debt/Assets | 0.1 x |
Financial Leverage | -2.1 x |
Root Acquisitions / Subsidiaries
| Company Name | Date | Deal Size |
|---|---|---|
| Buzzwords Labs Inc. | ||
| Caret Holdings, Inc. | ||
| Root Enterprise, LLC | ||
| Root Insurance Agency, LLC | ||
| Root Insurance Company | ||
| Root Reinsurance Company, Ltd. |
Root Cybersecurity Score
Root Online and Social Media Presence
4 Twitter followers
Root has 4 Twitter Followers. The number of followers has decreased 99.9% month over month and decreased 99.9% quarter over quarter
Root's Trends
Root Company Culture
Overall Culture
A
89/100
CEO Rating
A+
90/100
Compensation
A+
100/100
Root News and Updates
October 23, 2020
Bubba Wallace is unapologetic in striking new Root Insurance ad
The celebrated NASCAR driver was directly involved in the creative process, and the brand is aiming to show it’s a different kind of insurer.
One of the few drivers that people who don’t follow NASCAR can name is Bubba Wallace, and he’s never even won a major race. Of course, he is one of the best …
October 08, 2020
Root Insurance is targeting a $6 billion valuation in an upcoming IPO
Summary List PlacementThe US-based insurtech has filed for an IPO, per TechCrunch. Root has raised a total of $523 million in funding to date and is valued at $3.7 billion, though it's targeting a $6 billion IPO valuation. The full-stack insurtech sells auto, renters, and homeowners insurance, and i…
September 09, 2019
Root Insurance racks up $350 mln Series E
Columbus, Ohio-based Root Insurance, a property casualty insurtech company, has secured $350 million in Series E funding. DST Global and Coatue led the round with participation from Drive Capital, Redpoint Ventures, Ribbit Capital, Scale Venture Partners and Tiger Global Management.
August 15, 2019
Root Insurance Company Joins the Verisk Data Exchange
Insurer can use connected car data to improve safe driving discounts Insurer can use connected car data to improve safe driving discounts
August 22, 2018
A new unicorn is born: Root Insurance raises $100 million for a $1 billion valuation
Root Insurance, an Ohio-based car insurance startup with a tech twist, said Wednesday it has raised $100 million in a Series D funding round led of Tiger Global Management, pushing the company’s valuation to $1 billion. Redpoint Ventures, Ribbit Capital, and Scale Venture Partners all participated …
Root Blogs
August 06, 2020
We’re dropping credit score from car insurance pricing by 2025. Here’s why.
We believe your price should be determined by how well you drive, not who you are. That’s why we’re announcing our commitment to removing credit scoring from our pricing model.
March 06, 2020
What happens when car insurance lapses?
Here’s how to avoid fees and penalties from having a lapse in insurance coverage—or how to get a new policy if you can’t. It’s easy to get reinsured with Root.
February 19, 2020
Car insurance for college students
College student? If you’re bringing a car to campus, read this first. Find out about car insurance options and check out Root today.
February 11, 2020
How no-fault insurance works
Do you need no-fault car insurance? Find out which states require drivers by law to carry no-fault auto insurance coverage.
December 31, 2019
How to choose an insurance deductible
Need a car insurance deductible? You do for Collision or Comprehensive coverage. Here, we cover the basics, including the definition of a deductible and when you need one.
December 06, 2019
Eyes on the skies, Santa
Santa covers a lot of miles to deliver all those presents. But what would it mean if he were distracted by his phone while flying? Here, we dig into the data.
Root Frequently Asked Questions
When was Root founded?
Root was founded in 2015.
Who are Root key executives?
Root's key executives are Alex Timm, Lauren Gruenebaum and Dan Manges.
How many employees does Root have?
Root has 901 employees.
What is Root revenue?
Latest Root annual revenue is $290.2 m.
What is Root revenue per employee?
Latest Root revenue per employee is $322.1 k.
Who are Root competitors?
Competitors of Root include Go, BGL Group and RenewBuy.
Where is Root headquarters?
Root headquarters is located at 80 E Rich St #500, Columbus.
Where are Root offices?
Root has an office in Columbus.
How many offices does Root have?
Root has 1 office.
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