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Porch Group
Porch Group launched in 2011 as a home-services marketplace matching homeowners with contractors.
Porch Group
Porch Group launched in 2011 as a home-services marketplace matching homeowners with contractors. Founder and CEO Matt Ehrlichman previously founded Thriva, an online event-registration company, and returned to the home-services vertical after observing the fragmented lead-generation market during his own custom-home build. The firm moved its headquarters from Seattle's Eastside to downtown in 2019 and went public via a SPAC merger in late 2020. Porch organizes its operations into a vertical software segment serving home-inspection and moving companies, and an insurance segment anchored by Homeowners of America Insurance Company (HOAIC), a licensed underwriting entity it acquired in 2021. The software arm provides SaaS to roughly 11,000 companies at last public reporting, generating recurring revenue and proprietary data on property conditions and move events. Those data feed warm leads and underwriting signals into the insurance group, where Porch also operates a managing general agent (MGA) and reciprocal exchange. Confirmed geographic footprint spans the United States, with insurance carrier operations concentrated in states where the group holds admitted licenses. Public filings show consolidated revenue of approximately $431 million in 2023, driven by insurance premiums and software subscriptions. In May 2024, the firm announced a strategic shift to spin off or sell non-core moving and inspection software units to focus capital on the insurance carrier and MGA — a move to improve margins and regulatory clarity. The company has cycled through CFO departures and restated financials in 2022–2023, transactions covered by GeekWire and SEC filings, adding complexity to comparisons with conventional InsurTech peers. Porch Group's structural differentiator is its reciprocating data engine: software customers — inspectors, movers, repair pros — generate property-condition signals that bypass traditional third-party underwriting proxies. That first-party data flow feeds HOAIC's pricing and Porch's MGA placement decisions in a closed-loop architecture uncommon among publicly listed insurance vehicles, which typically rely on purchased lead lists or agency-channel distribution.
General information
Firm type
Asset Manager
Year founded
2011
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Seattle
Corporate office
Seattle, WA, United States
Principals
Matt Ehrlichman
CEO and Chairman
Sector focus
Frequently asked questions
Who runs investment and capital allocation decisions at Porch Group?
Matt Ehrlichman, the founder, serves as CEO and Chairman and holds majority voting control through a dual-class share structure. The board's audit and investment committees oversee treasury allocations, while day-to-day capital deployment — including the 2021 HOAIC acquisition — is directed by the executive team reporting to Ehrlichman.
How does Porch Group's insurance unit source its underwriting data?
The insurance arm, including HOAIC, draws proprietary data from Porch's home-inspection and moving-concierge platform. Inspectors and movers capture property-condition and lifecycle-event data that feed direct into underwriting models, rather than relying solely on traditional third-party data vendors or credit-based scores.
Is Porch Group structured as a family office or a public company?
Porch Group is a publicly traded company listed on the Nasdaq under the ticker PRCH. It operates a vertical software segment and a regulated insurance carrier, and does not function as a single or multi-family office.
What is Porch Group's known posture on acquisitions versus organic growth?
Porch has historically grown through acquisitions — notably the HOAIC insurance carrier purchase in 2021 and multiple smaller software tuck-ins. The May 2024 strategic pivot to divest non-core software units suggests current leadership is narrowing the focus toward organic underwriting scale and margin improvement inside the insurance group.
What regulatory structure governs Porch Group's insurance operations?
HOAIC is a Texas-domiciled admitted carrier regulated by state insurance departments. Porch also operates an MGA and, as of its public disclosures, a reciprocal exchange, giving the firm multiple structural pathways to retain premium risk and manage placement.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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