Last week, Columbus, Ohio car insurance provider Root Insurance became the latest startup to hit a $1 billion valuation — still a rare feat for any startup, and even rarer for those outside of Silicon Valley.
Root’s rapid ascent — it took the company just three years to reach unicorn status — is also indicative of the potential in the Midwest for one promising industry: insurance tech.
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Story excerpt provided by VentureBeat.
Written by Anna Hensel.
Originally published August 29, 2018.