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Columbus startup auto insurer, backed by $7M from Drive Capital, promises big savings for good drivers


Business Journal
25 Oct 2016

A discount auto insurer launched Tuesday from Columbus, using data from customers' smartphones to offer safe drivers big discounts on premiums without spending millions on wacky mascots and personas for TV ads.

Root Insurance Co. also is the first homegrown portfolio company for Columbus-based venture capital firm Drive Capital LLC, which has invested a cumulative $7 million in stages since March 2015.

'The key for us is going to be understanding the risk better than anybody else," said CEO Alex...

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