Texas-based insurance comparison site The Zebra has raised $150m in a Series D round, helping it attain the unicorn status.

The fundraising saw participation from both new and existing backers including Weatherford Capital and Accel.

The firm has secured over $250m until now, including seed financing.

Accel partner John Locke said: “We’ve been working with The Zebra since 2017 and the team is hitting their stride.

“As more of the insurance market goes digital, anyone who needs insurance will be able to successfully start their insurance search with us.”

The Zebra’s real-time quote comparison tool is designed to help consumers identify insurance companies with the coverage, service level, and pricing to suit their requirements.

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By GlobalData

The firm’s net revenue increased to $79m in 2020 from $37m in the previous year. It is presently said to have an annual run rate of $150m, with its headcount having grown around 60% since early 2020.

Over the last year, it has strengthened home and auto bundling capabilities, and continued to create personalised experiences including results informed by machine learning, among others.

Its other backers include Silverton Partners, Ballast Point Ventures, Daher Capital, Floodgate Fund, The Zebra’s CEO Keith Melnick, and KDT.

In February last year, the insurance comparison site received an infusion of $38.5m through a Series C funding round led by  Accel.

Commenting on the investment, The Zebra CEO Keith Melnick said: “This investment is going to be used to grow our team and build our brand.

“We are accelerating our efforts to make The Zebra a household name and help educate, empower and advise consumers to find the best policies for their unique needs, no matter where they are in their lives.”