InsurTech platform HOVER scores $60m in its Series D

HOVER, an end-to-end platform for improvement and property insurance professionals, has closed its Series D on $60m.

Travelers, State Farm Ventures, and Nationwide all co-led the round. Other backed included Standard Industries, Menlo Ventures, GV, Alsop Louie Partners and Guidewire Software.

Funds from the round will be used to enhance the company’s 3D data platform and expand its e-commerce efforts.

The FinTech platform uses computer vision and machine learning to structure property data, which can improve workflows for appraisal and estimation.

Insurance firms can use the app to reduce the property claim cycle times and improve policyholder experiences by using up-to-date photos and property measurements to create accurate claim estimates.

HOVER founder and CEO A.J. Altman said, “Today’s investment is evidence that our new and existing investors believe we will continue the transformation of the insurance and home improvement industries.

“I’m incredibly proud of the team’s work to grow and scale our business while maintaining a strong commitment to our customers and each other. As we deepen our relationships with top insurance carriers and expand our product offerings, we will remain focused on delivering value for our partners and customers, and continue improving the experience for the homeowner.”

HOVER has raised a total of $147m in funding since it was founded in 2011.

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