Root Inc., the parent company of Root Insurance, launched its initial public offering and is looking at a valuation of as much as $6.34 billion, TechCrunch reported.
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The Columbus-based startup has attracted approximately $528 million in venture-backed funding since the company was founded in 2015, according to Crunchbase data.
We last checked in on Root Insurance back in September 2019, when the company had raised a $350 million Series E round led by DST Global and Coatue. At the time, the company was valued at $3.65 billion.
Root is offering 24.2 million shares and targeting $22 to $25 per share and intends to list on the Nasdaq under the ticker symbol ROOT.
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Source: https://news.crunchbase.com/news/insurtech-startup-root-launches-ipo/
