- Companies
- Rhino
Rhino Revenue, Valuation, Funding & Investors
Rhino is valued at $450M as of January 2021, a 7.5x multiple on its last reported $60M revenue.
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
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
Website
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
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2021 | Undisclosed stage | $450M | 7.5x |
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
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2021 | $60M | $450M | 7.5x | Undisclosed 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2022 | Series 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 2021 | Undisclosed stage | Tiger Global (lead); Kairos HQ; Lakestar; Lakehouse Ventures | $95M | $450M | Rhino 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 2020 | Series 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 2019 | Series A | Kairos 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 2018 | Seed | - | $800K | - | - |
| Sep 2017 | Seed | ff 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Sep 2017 | ||
| 2 | Participant | Sep 2017 | ||
| 2 | Lead | Oct 2019 | ||
| 2 | Participant | Sep 2017 | ||
| 1 | Participant | Sep 2017 | ||
| 1 | Participant | Sep 2017 | ||
| 1 | Participant | Sep 2017 | ||
| 1 | Lead | Sep 2017 | ||
| 1 | Lead | Jan 2021 | ||
This data is available for Pro users. Sign up to see all 11 Rhino investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions 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
| 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 Country | ||
| HQ City | New York City, NY | Dublin |
| Deal Date | 6 Feb 2025 | 16 Nov 2022 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Rhino acquisitions and their M&A valuation multiples. Start Free Trial | ||
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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $355M | - | ||
| Private | $303M | - | $1B | 3.3x | ||
| Publicly listed | $176M | $81M | $445M | - | ||
| Publicly listed | $317M | $60M | $457M | 1.3x | ||
| Publicly listed | $56M | - | $441M | - | ||
| Publicly listed | $168M | $42M | $461M | 5.9x |
Rhino Public Comps
Rhino is still privately-owned, but its public comps include Menif Financial Services, AMERISAFE, Commercial Facilities Kuwait, Aye Finance, American Coastal, Ray Sigorta, Tower Ltd, Enity Holding, Sjova-Almennar tryggingar and eGuarantee.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $176M | $81M | 8.4x | - | 18.3x | - | |||
| $317M | $60M | 1.3x | 1.3x | 7.1x | - | |||
| $56M | - | 14.8x | - | - | - | |||
| $168M | $42M | 5.2x | 5.9x | 21.1x | - | |||
| $335M | $160M | 1.1x | 0.7x | 2.3x | - | |||
| $652M | $111M | 0.0x | - | 0.0x | - | |||
| $344M | $74M | 1.0x | 1.0x | 4.7x | 4.1x | |||
| $133M | - | 8.2x | 6.7x | - | - | |||
This data is available for Pro users. Sign up to see all Rhino competitors and their valuation data. Start Free Trial | ||||||||
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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