Root Insurance Co. has been valued at $1 billion after raising $100 million, the largest funding round for a Central Ohio startup in the 2000s.
Tiger Global Management, a New York City firm, led the Series D round on the heels of Root raising $51 million this spring.
The digital auto insurer is in 20 states and is aiming to go nationwide by the end of 2019. The financing will help speed hiring of engineers, actuaries, claims adjusters and customer support staff.
Story excerpt provided by Columbus Business First.
Written by Carrie Ghose.
Originally published August 22, 2018.