Rhino Revenue, Valuation, Funding & Investors

Rhino is valued at $450M as of January 2021, a 7.5x multiple on its last reported $60M revenue.

See full Rhino profile

Last Rhino valuation

$450M

Undisclosed stage · Jan 2021

Last Rhino funding round

$8M

Series A · Jan 2022

Rhino revenue

$60M

Undisclosed stage · Jan 2021

Key investors in Rhino

  • Kairos HQ
  • Picus Capital
  • Lakestar
  • Lakehouse Ventures
  • Tiger Global
  • FJ Labs

Rhino Overview

About Rhino

Rhino is a New York-headquartered licensed insurance agency offering renters insurance policies as alternatives to security deposits. The company underwrites coverage through partners like Markel and Frontline, protecting against property damage and liability for tenants nationwide. Founded in 2017, it partners with property managers at complexes in major US cities.


Founded

2017

HQ

United StatesNew York City, NY

Status

Privately held

Customer focus

B2C

Revenue model

Commission

Revenue

$60M (Jan 2021)

Valuation

$450M (Jan 2021)

Rhino Valuation

Rhino is currently valued at $450M, based on its undisclosed-stage round in January 2021.

The $95M round was led by Tiger Global, with participation from Kairos HQ, Lakestar and Lakehouse Ventures.

Rhino valuation by funding round

Rhino valuation by funding round
DateStageValuationRevenue Multiple
Jan 2021Undisclosed stage$450M7.5x

Rhino Revenue

Rhino's latest recorded revenue is $60M, as of its undisclosed-stage round in January 2021. At a $450M valuation, that implies a 7.5x revenue multiple.

Rhino revenue by funding round

Rhino revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jan 2021$60M$450M7.5xUndisclosed stage

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Rhino Funding History

Rhino has raised a total of $141M across 6 funding rounds.

Rhino's first fundraising round was a $2M seed round in September 2017. The most recent completed round was a $8M Series A in January 2022.

Rhino funding rounds

Rhino funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2022Series A-$8M-Rhino is a US-based insurtech company that provides security deposit insurance to renters as a direct replacement for traditional cash security deposits. The company's product model involves renters paying monthly fees to insure their landlord's property against damages and lost rent. As of January 2021, Rhino's policies covered one million homes in the US and had saved renters $250 million in cash. The company had grown to more than 100 employees by that time. Rhino raised $95 million in January 2021 led by Tiger Global Management, bringing total capital raised to $132.7 million since 2017.
Jan 2021Undisclosed stageTiger Global (lead); Kairos HQ; Lakestar; Lakehouse Ventures$95M$450MRhino is a New York City-based insurtech company founded in 2017 that provides security deposit insurance as an alternative to traditional cash security deposits, helping renters avoid upfront costs and addressing housing affordability challenges. The product partners with major landlords like Brookfield and Starwood, covering over 1 million units across 46 states and claiming to have saved renters more than $250 million by January 2021. On January 26, 2021, Rhino raised $95 million in a pre-IPO funding round led by Tiger Global Management, with participation from Kairos HQ, Lakestar, Lakehouse Ventures, and other investors, valuing the company at $500 million. This round brought Rhino's total funding to approximately $132.7 million. Co-founder Ankur Jain described it as likely the final raise before an IPO within 12-24 months, potentially via traditional IPO rather than SPAC. At the time of the round, Rhino reported $60 million in contracted annual recurring revenue (ARR) as of January 2021, up from $4 million in January 2019, representing 1,500% growth over two years, with plans to reach $100 million by Q3 2021. The company tripled its employee count to 100 over the prior 18 months and aimed to double to over 200 in 2021 while expanding partnerships, launching new insurance and lending products, and advocating for renter-friendly legislation adopted in cities like Cincinnati, Atlanta, New York, New Jersey, and Connecticut. Rhino's growth accelerated amid the COVID-19 pandemic, as demand surged for affordable housing solutions, positioning it within the hot insurtech and proptech sectors alongside IPOs like Lemonade and Root. The company stated it was profitable on a per-unit basis despite not being profitable companywide, with favorable economics including positive contribution margins inclusive of loss-adjustment expenses on its core product.
Aug 2020Series A-$14M-Rhino, a New York-based insurtech providing security deposit insurance as a cash deposit alternative for renters, raised USD 14 million in an undisclosed series round in August 2020 to enhance product features and increase customer acquisition. Lead investors were not publicly disclosed. This followed a Series A of USD 21 million in October 2019 led by Kairos HQ and Lakestar. The company has since continued fundraising, including USD 8 million in January 2022 for growth and expansion. A subsequent $95 million round in early 2021, led by Tiger Global with participation from Kairos, Lakestar VC, and Lakehouse VC, valued Rhino at just under USD 500 million post-money and brought total funding to USD 132.7 million since 2017.
Oct 2019Series AKairos HQ (lead); Lakestar (lead); Picus Capital$21M-Rhino is an insurtech company founded in 2017 that replaces traditional cash security deposits with affordable monthly insurance for renters. The company's core product allows renters to pay a small monthly fee instead of locking up large upfront cash deposits, while providing property owners with insurance coverage for damages and lost rent. Rhino's Series A funding round in October 2019 raised $21 million from lead investors Kairos HQ and Lakestar VC, though the post-money valuation for this specific round was not publicly disclosed. By January 2021, Rhino had achieved significant growth, reaching $60 million in contracted annual recurring revenue (ARR), representing 1,500% growth from $4 million in January 2019. The company had expanded its service to over 1 million homes and saved renters more than $250 million in direct cash savings. In January 2021, a subsequent $95 million funding round led by Tiger Global valued the company at just under $500 million, indicating substantial post-Series A growth but confirming no valuation disclosure for the October 2019 round itself.
Feb 2018Seed-$800K--
Sep 2017Seedff Venture Capital (lead); Kairos HQ (lead); Currency M (The Moinian Group); Chetrit Ventures; FJ Labs; Picus Capital; Beni VC; Lakehouse Ventures; Red Dog Capital$2M--

Who has invested in Rhino?

11 investors have backed Rhino across its funding rounds, including Kairos HQ, Picus Capital, Lakestar, Lakehouse Ventures, Tiger Global and FJ Labs.

Lead investors include Tiger Global, Kairos HQ, Lakestar and ff Venture Capital.


Rhino Investors

Investors in Rhino by funding rounds participated
InvestorHQRoundsRoleFirst check
Kairos HQUnited StatesNew York City, NY3LeadSep 2017
Picus CapitalGermanyMunich2ParticipantSep 2017
LakestarSwitzerlandZurich2LeadOct 2019
Lakehouse VenturesUnited StatesNew York City, NY2ParticipantSep 2017
Currency M (The Moinian Group)United StatesNew York City, NY1ParticipantSep 2017
Chetrit VenturesUnited StatesNew York City, NY1ParticipantSep 2017
FJ LabsUnited StatesNew York City, NY1ParticipantSep 2017
ff Venture CapitalUnited StatesNew York City, NY1LeadSep 2017
Tiger GlobalUnited StatesNew York City, NY1LeadJan 2021

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Rhino

Rhino has acquired 2 companies to date.

Last acquisition by Rhino was on February 6th 2025. Rhino acquired Jetty for undisclosed valuation.


Latest Acquisitions by Rhino

Jetty
Deposify
Description
Jetty is a New York-headquartered fintech platform providing renters insurance, deposit waivers, and lease guaranty services integrated with property management systems like Yardi and AppFolio. Launched in 2015, it processes transactions in 25 states and partners with landlords such as Equity Residential and AvalonBay Communities to cut move-in costs by up to 75 percent for tenants while reducing vacancy rates for managers.
Deposify is a London-based property tech platform that streamlines rental deposit handling for UK landlords, tenants, and agents. It facilitates secure deposit payments, holds funds in government-approved schemes, and automates dispute resolutions through digital adjudication. Launched to reduce end-of-tenancy conflicts, the service integrates with letting portals and offers real-time tracking.
HQ CountryUnited StatesIreland
HQ City
New York City, NY
Dublin
Deal Date6 Feb 202516 Nov 2022
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Rhino Competitors

Rhino competitors include listed companies like Menif Financial Services, AMERISAFE, Commercial Facilities Kuwait and Aye Finance, and private ones like Steadily and Acko.

Public and private companies comparable to Rhino
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SteadilyUnited StatesPortland, ORPrivate--$355M-
AckoIndiaMumbaiPrivate$303M-$1B3.3x
Menif Financial ServicesIsraelIsraelPublicly listed$176M$81M$445M-
AMERISAFEUnited StatesUnited StatesPublicly listed$317M$60M$457M1.3x
Commercial Facilities KuwaitKuwaitKuwaitPublicly listed$56M-$441M-
Aye FinanceIndiaIndiaPublicly listed$168M$42M$461M5.9x
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Menif Financial Services$176M$81M8.4x-18.3x-
AMERISAFE$317M$60M1.3x1.3x7.1x-
Commercial Facilities Kuwait$56M-14.8x---
Aye Finance$168M$42M5.2x5.9x21.1x-
American Coastal$335M$160M1.1x0.7x2.3x-
Ray Sigorta$652M$111M0.0x-0.0x-
Tower Ltd$344M$74M1.0x1.0x4.7x4.1x
Enity Holding$133M-8.2x6.7x--

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Common questions about Rhino

When was Rhino founded?Rhino was founded in 2017.
Where is Rhino headquartered?Rhino is headquartered in New York City, NY, United States.
Is Rhino publicly listed?No, Rhino is a private, VC-backed company.
What is Rhino's valuation?Rhino was last valued at $450M in its undisclosed-stage round in January 2021.
How much funding has Rhino raised?Rhino has raised $141M across 6 funding rounds.
What was Rhino's last funding round?Rhino's last funding round was a $8M Series A in January 2022.
Who are Rhino's investors?Rhino's investors include Kairos HQ, Picus Capital, Lakestar, Lakehouse Ventures, Currency M (The Moinian Group), Chetrit Ventures, FJ Labs, ff Venture Capital, Tiger Global, Beni VC and 1 other.
What is Rhino's revenue?Rhino's latest recorded revenue is $60M (January 2021).
What is Rhino's revenue multiple?Rhino's latest valuation implies a 7.5x revenue multiple ($450M valuation on $60M of revenue).
Which companies are comparable to Rhino?Companies comparable to Rhino include Steadily, Acko, Menif Financial Services, AMERISAFE, Commercial Facilities Kuwait and Aye Finance.
How many companies has Rhino acquired?Rhino has acquired 2 companies, including Jetty and Deposify.

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