Insurtech firm Exzeo secures $168m in US IPO
- By IndiaStartupBuzz | November 5, 2025
Exzeo Group Raises $168 Million in US IPO to Expand Insurtech Solutions
Exzeo Group Inc., a Tampa, Florida-based insurtech company, successfully raised $168 million through its initial public offering (IPO) on the New York Stock Exchange (NYSE) on November 4, 2025. The company sold 8 million shares priced at $21 each, marking the midpoint of its marketed range of $20 to $22 per share. With this pricing, Exzeo secured a market capitalization of approximately $1.9 billion.
Exzeo specializes in providing technology solutions for property and casualty (P &C) insurance carriers and their agents via its proprietary Exzeo Platform. The platform offers nine integrated software and data analytics applications that support insurance functions such as quoting, underwriting, policy administration, claims management, reporting, and financial management. Currently, Exzeo serves customers in 13 states in the US and holds licenses to operate in 29 states.
Financially, Exzeo reported net income of $56.57 million on revenue of $182.14 million for the 12 months ending June 30, 2025, reflecting robust profitability. The firm operates as a spun-out entity from the HCI Group, which remains a key stakeholder. Truist Securities, Citizens Capital Markets, and William Blair served as lead underwriters for the IPO.
The raised capital will support product development, geographic expansion, and investment in innovation to enhance Exzeo’s technology offerings in the competitive insurtech landscape. The company’s strong financial foundation and broad technology suite position it well to capitalize on growing demand for AI-powered, digital insurance management solutions.
Shares of Exzeo began trading on the NYSE under the ticker symbol “XZO.” The offering included an over-allotment option that, if exercised in full, could raise total proceeds up to $193.2 million.
In summary, Exzeo’s $168 million IPO marks a significant milestone for the insurtech firm, reinforcing its leadership in technology-driven P &C insurance solutions and enabling accelerated growth in the US and beyond.
