Trov
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About
Trov is reinventing insurance for the mobile generation by making it simple, flexible and transparent. With the introduction of the world’s first on-demand, micro-duration insurance platform, Trov gives people the power to insure just what they want, exactly when they want, entirely from their mobile device. The Trov app also helps people easily organise important information about the things they own and back it up to the cloud, so it’s accessible when needed. In April 2016, Trov announced a $25.5m Series C funding round led by Oak HC/FT, with participation from Suncorp Group, Guidewire and existing investor Anthemis Group. Trov launched in Australia in May 2016, and will roll out in the UK later in 2016, before launching in the United States and other regions in 2017. Trov is headquartered in the San Francisco Bay Area.
Trov offers a web and mobile based applications to help users track possessions and assist in advising in wealth and estate planning, property management, insurance coverage, private social connectivity, asset disposition, charitable giving and more.
Focus
PRODUCTS & SERVICES
On-demand insurance platform to track and protecct the belongings
MAIN CLIENTS
Brown and Brown Private Client Group
Costello and Sons
Fort Point
G.S. Levine
Lane McVicker and TDC
EXISTING PARTNERSHIPS
Suncorp Group
Hub International
Lockton and Willis
PRIMARY PROBLEM SOLVED
Trov is designed specifically for the mobile generation, who often find the constraints of traditional insurance incompatible with their untethered lifestyles. The 2015 World Insurance Report revealed that just 36 percent of millennials reported a positive experience with their traditional insurer in 2015, compared to 52 percent of other age groups. Trov represents an enormous opportunity for this group as it provides a far more flexible approach to insurance, whether they are heading to university, going travelling, working on-the-go, or simply wanting to protect something they love.
Traction
VALUATION / MARKET CAP:
$300 M in 2017
COMPANY TYPE:
For Profit
TRACTION COMMENT:
The platform exited beta in summer 2014 and has been steadily growing its installed base around the world, with over over $3 billion worth of item value currently stored in people’s Trovs. It has over $10 billion worth of items added and over 1,000,000 items added as of November 2016. Trov officially launches on-demand camera gear insurance at the 2017 photography show in Birmingham.
People
FOUNDERS
Jim Gemmell
Mark Dowds
BOARD MEMBERS AND ADVISORS
Patricia Kemp
Priscilla Hung
Sean Park
Ken Rudin
NUMBER OF EMPLOYEES
51-200
INVESTORS:
Sompo Japan Nipponkoa Insurance
KEY EMPLOYEES:
Scott Walchek(CEO)
Momentum
FUNDED
YES
NUMBER OF FUNDING ROUNDS
5
TOTAL FUNDING
$91 M
DATE OF LAST FUNDING
Apr 2017
IPO STATUS
Private
ESTIMETED REVENUE RANGE
$1M to $10M
FUNDING SERIES
SERIES A · $3 M · Jul 2012
SERIES B · $6.5 M · Feb 2015
SERIES C · $25.5 M · Mar 2016
SERIES D · $56 M · Apr 2017
LISTED
NO
COMMENT
Convertible Note: $7.5 M(Dec 2015)
Web Traffic
MONTHLY VISITS
4,654
AVERAGE VISITS (6 MONTHS)
4,770.41
MONTHLY VISITS GROWTH
-16.84%
VISIT DURATION
168
VISIT DURATION GROWTH
111.29%
PAGE VIEWS VISIT
2.05
PAGE VIEWS VISIT GROWTH
52.75%
BOUNCE RATE
55.18%
BOUNCE RATE GROWTH
-32.68%
GLOBAL TRAFFIC RANK
2,487,072
MONTHLY RANK CHANGE
-954,718
MONTHLY RANK GROWTH
-27.74%
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Trov
About
Trov is reinventing insurance for the mobile generation by making it simple, flexible and transparent. With the introduction of the world’s first on-demand, micro-duration insurance platform, Trov gives people the power to insure just what they want, exactly when they want, entirely from their mobile device. The Trov app also helps people easily organise important information about the things they own and back it up to the cloud, so it’s accessible when needed. In April 2016, Trov announced a $25.5m Series C funding round led by Oak HC/FT, with participation from Suncorp Group, Guidewire and existing investor Anthemis Group. Trov launched in Australia in May 2016, and will roll out in the UK later in 2016, before launching in the United States and other regions in 2017. Trov is headquartered in the San Francisco Bay Area.
Focus
PRODUCTS & SERVICES
On-demand insurance platform to track and protect belongings
TOP PROBLEM SOLVED
Trov is designed specifically for the mobile generation, who often find the constraints of traditional insurance incompatible with their untethered lifestyles. The 2015 World Insurance Report revealed that just 36 percent of millennials reported a positive experience with their traditional insurer in 2015, compared to 52 percent of other age groups. Trov represents an enormous opportunity for this group as it provides a far more flexible approach to insurance, whether they are heading to university, going travelling, working on-the-go, or simply wanting to protect something they love.
PRODUCT DEVELOPMENT STAGE
COMMERCIAL LAUNCH
PRIMARY CUSTOMER TYPE
Consumer
Traction
LIVE USERS/TRANSACTIONS:
No live users/transaction yet
People
BOARD MEMBERS AND ADVISORS:
Priscilla Hung, Patricia Kemp, Sean Park, Ken Rudin
INVESTORS:
Momentum
FUNDED
YES
TOTAL FUNDING:
$38.8 M
LISTED
NO
FUNDING SERIES
SERIES A · $3 M · Jul 2012
SERIES B · $10.3 M · Feb 2015
SERIES C · $25.5 M · Apr 2016