Illustration: Sarah Grillo/Axios

Hippo, a Palo Alto, Calif.-based home insurance startup, raised $150 million in Series E funding at a $1.5 billion valuation.

Why it matters: This reflects rising home sales, falling mortgage rates, and the highly successful IPO and aftermarket performance of rival Lemonade.

  • New investors Dragoneer, Ribbit Capital, FinTLV, and Innovius Capital were joined by return backers Felicis Ventures and Iconiq Capital.
  • Hippo has now raised around $310 million in total funding, including a Series D round last July at a $1 billion valuation.

The bottom line: "Hippo sells policies in 29 states, after working to get regulatory approval from those state insurance watchdogs. It struck a deal in June to buy Spinnaker Insurance Co., giving it an insurance carrier while still allowing it to have a portion of its premiums underwritten by other insurance partners," Bloomberg notes.

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Dan Primack, author of Pro Rata
Oct 6, 2020 - Economy & Business

Fitness company ICON valued at over $7 billion after new funding round

Illustration: Sarah Grillo/Axios

ICON, a Utah-based connected fitness company whose brands include NordicTrack, raised $200 million in growth equity funding at a valuation north of $7 billion. L Catterton led, and was joined by Pamplona Capital Management.

Why it matters: L Catterton previously backed rival Peloton, holding a 5.4% stake at the time of IPO (it since appears to have divested).

Supreme Court rejects request to extend Wisconsin absentee ballot deadline

Photo: Saul Loeb/AFP via Getty Images

The Supreme Court rejected in a 5-3 decision Monday Wisconsin Democrats' request to reinstate an extension of the deadline for counting absentee ballots to six days after Election Day, as long as they're postmarked by Nov. 3.

Why it matters: All ballots must now be received by 8 p.m. on Election Day in Wisconsin, a critical swing state in the presidential election.

Senate confirms Amy Coney Barrett to the Supreme Court

Judge Amy Coney Barrett before a meeting on Capitol Hill on Oct. 21. Photo: Sarah Silbiger/pool/AFP via Getty Images

The Senate voted 52-48 on Monday to confirm Judge Amy Coney Barrett to the Supreme Court. She is expected to be sworn in within hours.

Why it matters: President Trump and Senate Republicans have succeeded in confirming a third conservative justice in just four years, tilting the balance of the Supreme Court firmly to the right for perhaps a generation.