The Zebra Becomes a Unicorn and Raises $150 Million

The Zebra, an insurance comparison site, announced it has raised $150 million, giving the company a valuation of more than $1 billion.

The Zebra, founded in 2012, has raised $251.3 million to date including $38.5 million last February.

The Series D round came from new and former investors including Weatherford Capital and Accel, according to a news release.

The Zebra saw its revenue increase last year to $79 million, from $37 million in 2019 and it’s on track to hit $150 million this year, according to a news release. The company has also increased its staff to 325 employees, up from 200 employees in 2019. The staff has also pivoted to a fully remote model during the pandemic.

“This investment is going to be used to grow our team and build our brand. We are accelerating our efforts to make The Zebra a household name and help educate, empower and advise consumers to find the best policies for their unique needs, no matter where they are in their lives,” Keith Melnick, CEO of The Zebra, said in a news statement.

“As one of the earliest investors in The Zebra, this inflection point in the company’s history is something I’ve been eagerly anticipating. “Startup” isn’t the right word anymore. The Zebra is a full-fledged tech company that is taking on – and solving – some of the biggest challenges in the $638 Billion insurance industry,” Mark Cuban, entrepreneur and owner of the Dallas Mavericks.

The Zebra did a national advertising campaign last year to increase consumer awareness. The company also added more tools and information for consumers, expanded its home and auto bundling capabilities, and more.

The Zebra’s investors include Accel, Silverton Partners, Ballast Point Ventures, Daher Capital, Floodgate Fund, The Zebra’s CEO Keith Melnick, Weatherford Capital, KDT, and others.

“We’ve been working with The Zebra since 2017 and the team is hitting their stride. As more of the insurance market goes digital, anyone who needs insurance will be able to successfully start their insurance search with us,” John Locke, partner at Accel, said in a news release.