Porch completes $100M Homeowners of America acquisition, doubling down on insurance market
April 6, 2021 at 7:18 am
Matt Ehrlichman, Porch founder and CEO. (Porch Group Photo)
Based in Irving, Texas, Homeowners of America operates in six states but is licensed to operate in 31 states. Porch says it will use the acquisition to build its national footprint in the home insurance market.
“The plan is to expand very, very aggressively across the vast majority of states,” said Matt Ehrlichman, the Porch founder and CEO, in an interview this week. At the same time, he acknowledged that it won’t happen overnight, saying that it will take the “better part of a year to make a meaningful dent” in the overall Homeowners of America expansion plans.