https://techcrunch.com/2020/10/20/root-targets-6b-valuation-in-pending-ipo-a-boon-for-insurtech-startups/

This morning Root Insurance, a neo-insurance provider that has attracted ample private capital for its auto-insurance business, is targeting a valuation of as much as $6.34 billion in its pending IPO.

The former startup follows insurtech leader Lemonade to the public markets during a year in which IPOs have been well-received by investors focused more on growth than profitability. In the wake of Lemonade’s strong public offering and rich revenue multiples, it was not impossible to see another, similar startup test the same waters.