Auto-Insurance Startup Root Rides Growth to $3.65 Billion Valuation - Wall Street Journal

Auto-insurance startup Root Insurance Co. is completing a new round of capital raising that would value the company at $3.65 billion, a person familiar with the situation said.

New investors DST Global and Coatue Management are leading the investment of $350 million, with all the company’s existing backers also planning to participate, the person said. The deal is expected to be completed this month, the person added.

Based...