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Root Insurance history
Root Insurance company history timeline
Root, Inc was founded in March 2015 by Alex Timm and Dan Manges.
In July 2015, KBR partnered with Bernhard Capital Partners (BCP), spinning off its Industrial Services Americas division to establish Brown & Root Industrial Services.
In 2017, Root began offering a discount to Tesla owners who drive using Autosteer mode, making Root the first insurance company to adjust premiums based on the deciding fact of whether the vehicle being insured is operating under semi-autonomous vehicle conditions.
In 2018, Root became the first insurance tech startup outside the health-care sector to achieve unicorn status.
On September 9, 2019, Root announced their Series E funding round of $350 million on a $3.6 billion valuation.
On October 27, 2020, Root had its initial public offering (IPO) where shares sold at $27 each, raising $724.4 million the largest IPO in Ohio history.
On August 11, 2021, Root announced a partnership deal with Carvana to develop personalized auto insurance programs for Carvana’s online car-buying platform.
In 2021, Dan Manges co-founder retired from CTO and now is an advisor for Root Inc.
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Root Insurance competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Kentucky | 2003 | $1.6M | 15 | 2 |
| JAD | 1967 | $8.6M | 50 | 1 |
| Louisiana Companies | 1890 | $17.3M | 50 | 36 |
| Oscar | 2012 | $22.7M | 1,443 | 286 |
| Austin.com | - | - | 6 | 110 |
| Bk | - | $740,000 | 50 | 652 |
| Platinum Supplemental Insurance | 1995 | $310,000 | 7 | 616 |
| Vast Inc | 1895 | $21.4M | 5 | - |
| HHG & Company LLC | 1986 | $960,000 | 50 | 2 |
| Golden Eagle Insurance | 1995 | $1.1M | 100 | - |
Root Insurance history FAQs
Zippia gives an in-depth look into the details of Root Insurance, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Root Insurance. The employee data is based on information from people who have self-reported their past or current employments at Root Insurance. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Root Insurance. The data presented on this page does not represent the view of Root Insurance and its employees or that of Zippia.
Root Insurance may also be known as or be related to ROOT INSURANCE, Root Insurance, Root Insurance Co, Root Insurance Company and Root, Inc.