Branch

Branch (also known as Branch Financial Inc), offers personal auto, homeowners' or renters', and umbrella insurance products.

The company enables users to bundle their home and auto insurance - or renters and auto insurance - in just one minute. Consumers simply need to provide their name and address. Its policies are underwritten by a subsidiary of SCOR.

Branch was founded in February 2018 by Steve Lekas (CEO) and Joseph Emison (CTO). The founders took part in YCombinator's Startup School, graduating in November 2018.

In 2019 the startup partnered with ClarionDoor to help enhance its bundling technology, utilising the company's Digital Distribution Suite.

In July 2020 Branch raised a $24m Series A. Investors included Greycroft, AmFam Ventures and more.

In November 2020, Branch partnered with Cambridge Mobile Telematics to launch Community Drive, which will leverage Branch's ability to help consumers access coverage options quickly and easily with CMT's safe driving technology. CMT's market leading telematics platform, DriveWell, will power the new program, enabling Branch to reward its community members with deeper discounts for safe driving.

In June 2021 Branch Insurance raised $50m Series B funding to expand nationally and grow its partner channel. Investors included Anthemis Group, American Family Ventures, and SCOR P&C Ventures. The startup has achieved a 435% growth in its partner channel, 660% growth in active policies, and a 734% increase in active premium less than one year after its $24m Series A.

In August Branch announced a partnership with Snapsheet to help further develop their claims processes.

In September 2021 Branch entered a partnership with Safekeep, an insurtech that utilises AI to maximise net recovery through its Claims Profitability Platform. The aim of the partnership is to identify and maximise Branch Insurance's recovery opportunities across all insurance products using Safekeep's recovery platform - Safekeep expects to increase recovery potential by over 20%.

Branch raised $147m in Series C funding in June 2022 to become a Unicorn, with a post-money valuation of $1.05bn. The company also revealed that it has grown its annualised written premium by 1,300% in the last 12 months, and since its last raise, had increased its team from 75 to 400. The new funds will be used to continue its roll-out across the US, with the company currently available in 28 states.

During February 2023 the company announced it is expanding into Washington D.C, Massachusetts, and Mississippi.

Branch is based in Columbus, Ohio.