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LeaseLock
Insurance technology to replace security deposits
- 21-100 employees
- Fintech
- B2B
- Artificial Intelligence
- Insurance
- Deep Tech
- Real Estate
- Machine Learning
- SaaS
- Marina del Rey, CA
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Company mission
To empower housing providers with insurance technology to replace outdated financial tools with modern loss protection.
11% employee growth in 12 months
Our take
LeaseLock is an insurtech company offering real estate insurance designed to make security deposits obsolete. According to LeaseLock, security deposits don't offer adequate protection, reduce lease conversions, and they're a hassle to enforce and collect. With LeaseLock, renters pay a small monthly insurance fee in place of their deposit, and this offers up to $5000 coverage for damage.
The legal background of co-founder Reichen Kuhl has no doubt informed development when it comes to creating products that help both property owners and renters to work with US security deposit legislation. To date, LeaseLock has insured upwards of $6 billion in leases, proving that there is a real market for its products.
Despite this proven success, the company, which is not yet profitable, was forced to make layoffs in 2022 in order to extend its runway - a result of the macroeconomic conditions causing similar layoffs across the board. It has also appointed a new CEO, and seems positive these moves will allow it to remain the leading lease insurance provider for rental housing as it pursues further growth in the coming years.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- Equity in a venture-backed company
- 401(k) plan
- Work from home opportunities
- Health insurance
- Dental & vision cover
Funding (last 2 of 3 rounds)
Feb 2021
$52m
SERIES B
Apr 2018
$10m
SERIES A
Total funding: $63.5m
This company has top investors
Leadership
Reichen Kuhl
(Board Chairman)Was an official member of the Forbes Real Estate Council from 2019 to 2023. Former CEO and Founder of the Reichen Group.