Add-on Acquisition • Insurance

Porch.com Acquires Homeowners of America

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

Acquisition Context

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.

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M&A Deal Summary
Date	April 6, 2021
Target	Homeowners of America
Sector	Insurance
Buyer(s)	Porch.com
Deal Type	Add-on Acquisition
Deal Value	100M USD

Target Company

Homeowners of America

Irving, Texas, United States

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 Overview 1

Buyer

Porch.com

Seattle, Washington, United States

Category	Company
Founded	2011
Sector	Internet Software and Services
Employees	729
Revenue	438M USD (2024)

DESCRIPTION

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 Context for Buyer	#
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	-

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

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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