# Porch Group

Porch Group is an Asset Manager based in Seattle, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Seattle, United States
- **Region:** North America
- **Address:** Seattle, WA, United States
- **Founded:** 2011
- **Assets under management:** Undisclosed
- **Website:** porchgroup.com

## Regulatory record

- **Reports private funds:** No

## About

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. 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. 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.

## Sectors

- PropTech
- InsurTech
- Enterprise Software

## People

- Matt Ehrlichman — CEO and Chairman

## 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.

### 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.

## Related profiles

- [Upwork](https://altss.com/profile/upwork-inc)
- [Papa Johns International](https://altss.com/profile/papa-johns-international-inc)

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Last updated: 2026-08-11T02:43:31.692Z

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