The round also featured participation from Kairos, Lakestar VC, and Lakehouse VC. Rhino has raised a total of $132.7 million since 2017.
Rhino’s security deposit insurance acts as a “direct replacement” for a cash security deposit. Renters pay the firm monthly fees to insure their landlord’s property for damages and lost rent.
The firm claims it has tripled in size to more than 100 employees. It says its policies cover one million homes in the US, and saved renters $250 million in cash.
