Kin Insurance secures $82M at 1st close

Kin Insurance Inc. raised $82 million in the first close of its series D funding round led by QED Investors LLC.

The funding round includes additional commitments totaling $18 million for a second close. Returning investors Commerce Ventures Management LLC, Flourish Ventures, Hudson Structured Capital Management Ltd., Alpha Edison, AllegisNL Capital, Avanta Ventures LLC and August Capital Master Management Co. LLC participated in the funding round, along with new investors Geodesic Capital and PROOF.VC.

Kin Insurance intends to use the funds to recruit talent across all departments, expand its suite of insurance products and expand to additional states. The company is poised to launch in several new markets in 2022, according to a release.