Root

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.

TypePublic
Founded2015
HQColumbus, USMap
Websitejoinroot.com
Employee Ratings3.8More
Overall CultureA+More
View Jobs (88)

Recent NewsAll News

Latest Updates

Employees (est.) (Jun 2020)901
Job Openings88
Revenue (FY, 2019)$290.2 M(+571%)
Share Price (Nov 2020)$19 (-1%)
Cybersecurity ratingCMore

Key People/Management at Root

Alex Timm

Alex Timm

Co-Founder & CEO
Lauren Gruenebaum

Lauren Gruenebaum

Chief Product Officer
Dan Manges

Dan Manges

Co-Founder & CTO
Kelly Ruoff

Kelly Ruoff

Chief Brand Officer
Daniel Rosenthal

Daniel Rosenthal

Chief Financial Officer
David Martin

David Martin

Chief Data Scientist
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Root Office Locations

Root has an office in Columbus
Columbus, US (HQ)
80 E Rich St #500
Show all (1)

Root Financials and Metrics

Root Revenue

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Root's revenue was reported to be $290.20 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 (20-Nov-2020)

4.7b

Closing stock price (20-Nov-2020)

19.0

Cash (30-Jun-2020)

240.9m

EV

4.7b
Root's current market capitalization is $4.7 b.
Annual
USDFY, 2018FY, 2019

Revenue

43.3m290.2m

Revenue growth, %

570%

Cost of goods sold

53.7m373.7m

Gross profit

(10.4m)(83.5m)
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Revenue

41.4m62.7m79.6m124.0m121.4m

Cost of goods sold

58.2m70.3m116.1m141.2m112.6m

Gross profit

(16.8m)(7.6m)(36.5m)(17.2m)8.8m

Gross profit Margin, %

(41%)(12%)(46%)(14%)7%
show all
Annual
USDFY, 2018FY, 2019

Cash

122.3m391.7m

Accounts Receivable

35.0m122.7m

PP&E

3.8m10.2m

Total Assets

216.0m728.6m
Quarterly
USDQ2, 2020

Cash

240.9m

Accounts Receivable

130.1m

PP&E

10.2m

Total Assets

706.8m
show all
Annual
USDFY, 2018FY, 2019

Net Income

(69.1m)(282.4m)

Depreciation and Amortization

600.0k4.9m

Accounts Payable

9.0m20.0m

Cash From Operating Activities

(26.1m)(127.2m)
Quarterly
USDQ2, 2019Q2, 2020

Net Income

(97.0m)(144.5m)

Depreciation and Amortization

1.6m7.1m

Accounts Payable

6.2m(100.0k)

Cash From Operating Activities

(38.0m)(62.4m)
show all
USDFY, 2018

Revenue/Employee

335.4k

Debt/Equity

-0.1 x

Debt/Assets

0.1 x

Financial Leverage

-2.1 x
Show all financial metrics

Root Operating Metrics

FY, 2018H1, 2019Q3, 2019FY, 2019H1, 2020

In-Force Policies (Auto)

111.74 k220.54 k242.63 k281.31 k334.33 k

In-Force Policies (Renters)

825 1.75 k5.97 k

Premiums per Policy (Auto)

$729 $805 $877 $904 $909

Premiums per Policy (Renters)

$122 $127 $139
Show all operating metrics

Root Acquisitions / Subsidiaries

Company NameDateDeal Size
Buzzwords Labs Inc.
Caret Holdings, Inc.
Root Enterprise, LLC
Root Insurance Agency, LLC
Root Insurance Company
Root Reinsurance Company, Ltd.

Root Cybersecurity Score

Cybersecurity ratingPremium dataset

C

79/100

Learn more about our premium products
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Root Online and Social Media Presence

Root's Trends

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Root Company Culture

  • Overall Culture

    A+

    95/100

  • CEO Rating

    A+

    100/100

  • Compensation

    A+

    100/100

Learn more on Comparably

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.
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 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.