Kin raises $82 million using Kin.com

Company rebranded to a .us and then upgraded to the matching .com.

Logo for Kin insurance has kin. in lower case orange letters

InsurTech startups seem to be prime candidates for securing domain name upgrades. In 2019, homeowners insurance provider Hippo paid $3.3 million to acquire Hippo.com, while more recently, car insurance firm Root took ownership of the Root.com domain.

Consumer-facing companies, especially those that provide critical services like insurance, often benefit from owning ultra-premium domains because of the immediate trust and brand longevity that they emit.

Another leading InsurTech company caught my eye this week after it completed an $82 million Series D funding round, bringing its total raised to $238.2 million, according to Crunchbase.

The company in question, Kin, stood out to me thanks to its domain name, Kin.com. Another insurance company with a stunning domain name.

Founded in 2016, Kin was originally named Bright Policy, with co-founders Sean Harper and Lucas Ward unveiling the company at a 500 Startups mini-conference. The duo received plenty of early interest, raising $650,000 in seed funding just months after launching.

By the time Bright Policy raised its seed funding round in mid-2017, it had already rebranded. The company filed a trademark for Kin in early 2017, and by March, the company was operating on Kin.us.

In July 2017, a month before disclosing its $3.3 million seed funding round, Kin made a move for Kin.com. Up until Kin’s acquisition, Kin.com was in the hands of tech giant Microsoft, which secured the name in 2009 before launching its short-lived mobile phone, Kin.

As a side note, Microsoft reportedly invested more than $1 billion in developing the Kin platform before scrapping it in 2011. Kin.com was left redundant.

Microsoft divested Kin.com in 2017 when it also sold off a number of other premium domains such as Firefly.com and Jellyfish.com, primarily acquired by investors.

Following its acquisition of Kin.com, Kin soon transitioned to its new domain name and grew at an impressive rate, especially in 2021. Last year, Kin achieved 320% year-on-year growth.

Having just raised a further $82 million in funding, Kin and its Kin.com domain are in a perfect position to gain a larger market share.

Post link: Kin raises $82 million using Kin.com

© DomainNameWire.com 2022. This is copyrighted content. Domain Name Wire full-text RSS feeds are made available for personal use only, and may not be published on any site without permission. If you see this message on a website, contact editor (at) domainnamewire.com. Latest domain news at DNW.com: Domain Name Wire.

Original article: Kin raises $82 million using Kin.com

©2022 Domain Observer. All Rights Reserved.

Leave a Reply

Your email address will not be published.