A technology-based insurance company said a stratospheric increase in written premiums and success raising millions from investors will let it boost staff at its dual headquarters in Austin and Lenexa, Kansas.
Steadily's gross written premiums increased 7,000% in 2021, it said in an announcement. The company, founded in 2020, targets its coverage at the nation's 17 million individual landlords, according to the announcement. It operates legally as Steadily Insurance Agency Inc.
Co-founder and CEO Darren Nix said Steadily currently employs 47, with 10 in Austin and a focus on product and engineering. The company said it added 26 employees last year, including vice presidents of underwriting, marketing and sales. Steadily plans to continue hiring, and expects to more than double its employee count at its Lenexa and Austin headquarters while bolstering its remote workforce.
Venture capital funding is feeding the company's growth. Steadily announced a $27.2 million series A round in November, adding to a $3.8 million round announced in 2020. Investors include Matrix Partners, Zigg Capital, Vesta Ventures, Peak State Ventures, Nine Four Ventures and Austin-based Next Coast Ventures.
The dual headquarters is an outgrowth of its founding by Nix, who previously founded and sold three companies, and Datha Santomieri, an insurance veteran who worked in the Kansas City area. Santomieri is vice president.
Austin Business Journal's Will Anderson contributed reporting.
