Today, The Zebra, an Austin stationed insurance startup, declared it has closed a $38.5 million Series C. Accel headed the funding series, which was participated in by prior investors Silverton Partners, Ballast Point Ventures, and the firm’s CEO Keith Melnick. Floodgate and Weatherford Capital invested in the firm.
Based on Melnick, the corporate had centered a final sum closer to $30 million; however, interest in putting more capital into the enterprise by the company’s existing investor set led to a bigger Series C.
The Zebra initially raised a number of Seed rounds, and a $17 million Series C headed by Ballast and a $40 million Series B set by Accel.
The Zebra joins competing startups, including Insurify ($23 million), Gabi ($27 million), and Policygenius in raising new capital in 2020.
The Zebra launched some hard performance numbers together with its round, which not only proves why the firm was in a position to raise more capital but also why its space is hot.
Based on Melnick, the CEO, The Zebra is enhancing customer acquisition costs over period, as it is also improving its income generation, which means the startup isn’t spending its capital on pushing artificial progress.