M&A Deal Summary

Porch.com Acquires Homeowners of America

On April 6, 2021, Porch.com acquired insurance company Homeowners of America for 100M USD

Acquisition Highlights
  • This is Porch.com’s 1st transaction in the Insurance sector.
  • This is Porch.com’s largest (disclosed) transaction.
  • This is Porch.com’s 7th transaction in the United States.
  • This is Porch.com’s 1st transaction in Texas.

M&A Deal Summary
Date 2021-04-06
Target Homeowners of America
Sector Insurance
Buyer(s) Porch.com
Deal Type Add-on Acquisition
Deal Value 100M USD

Target

Homeowners of America

Irving, Texas, United States
website
Homeowners of America is a Managing General Agent and insurance carrier hybrid with high margins and a capital-efficient reinsurance strategy that limits retained risk. HOA primarily operates in six states, including Texas, Arizona, North Carolina, South Carolina, Virginia, and Georgia. The company was founded in 2006 in Texas, a $10 billion homeowners insurance market, and was the 12th largest home insurer in Texas in 2019. HOA is licensed to operate in 31 states, positioning it for nationwide expansion as part of Porch.

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Buyer(S) 1

Buyer

Porch.com

Seattle, Washington, United States

website

Category Company
Founded 2011
Sector Internet Software and Services
Employees1,000
Revenue 73M USD (2020)
DESCRIPTION
Porch's corporate headquarters in Seattle, Washington.
Porch's corporate headquarters in Seattle, Washington.

Porch.com is a home services platform that helps homeowners maintain their home and get projects done by connecting them with quality pros. Porch.com was established in 2011 and is based in Seattle, Washington.

DEAL STATS #
Overall 7 of 8
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 7 of 8
State (Texas) 1 of 1
Country (United States) 7 of 8
Year (2021) 2 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-21 V12 Data

Wesley Chapel, Florida, United States

V12 Data is a provider of Data-as-a-Service (DaaS) and Right Time Marketing, delivering market leading data products, real time technologies, and powerful analytics to power the right connections. V12 Data was founded in 1978 and is based in Wesley Chapel, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-27 Floify

Boulder, Colorado, United States

Floify is a digital mortgage automation and point-of-sale software solution that streamlines loan origination by providing a secure application, communication, and document portal between lenders, borrowers, referral partners, and other mortgage stakeholders. Floify was founded in 2013 and is based in Boulder, Colorado.

Buy $77M
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