Hippo CEO Assaf Wand. Photo credit: Hippo

Hippo, a home insurance startup, has announced it’s raised $150 million in new funding that values it at $1.5 billion post-money. The new funding was provided by venture capital firms FinTLV, Ribbit Capital, Dragoneer, and Innovius Capital. With the new funding, Palo Alto-based Hippo has now raised a total of $359 million in funding since its inception. The company says it’ll use the new funding to facilitate its planned expansion to cover 95% of the U.S. homeowner population.

Hippo initially began offering digital home insurance services in the U.S. state of California in 2017 but has now rolled it out to 29 states. According to the company, its total written insurance premiums in the past 12 months amounted to $270 million, representing a 140% year-on-year growth.

Hippo currently has about 160 employees at its offices in the cities of Palo Alto, California, and Austin and Dallas, Texas. The company plans to increase that number by 100 this year, with construction currently underway for a new campus that’ll even hold up to 310 employees. The new campus is scheduled to open next year.

According to Hippo’s chief executive, Assaf Wand, the company is targeting a possible public listing by next year.