Far from resenting that a product manager left to found a startup, then hired away an engineering lead, Root Insurance co-founder Alex Timm backed and guided the new company.
Megan Harris departed Root Inc. in December 2020, just over a month after the Columbus startup's record-breaking IPO. It's a prime example of the flywheel set in motion when tech companies explode on the scene, then sprinkle new entrepreneurs throughout the region.
Empora Title Inc., the startup Harris founded, attracted collaborators and mentors throughout the Central Ohio and nationwide tech community, even from the industry she's disrupting.
After a year in stealth mode, Empora launched publicly with a $20 million Series A round this week. The startup is working to digitize the cumbersome title transfer process for real estate investors.
Root's CEO supported Harris' leap: The company joined Empora's $4.6 million seed round, and Timm advised her on operations. He was not available for an interview.
"Alex Timm is a fantastic mentor," Harris said in an interview. "He advised me on fundraising, general management of starting a company, and aligning around building an excellent team early on. ... I’m excited to use some of those same principles."
Harris spent one year as a product manager at Root, in charge of customer experience, and learned "a lot about how to build great tech companies," she said. She also reached back to hire more talent who wanted to start something new.
Timothy Overly joined this August as director of engineering, after four years as a senior engineering manager at Root. One of his projects there was to lead the team building the software that brought claims management in-house.
Before Root, Harris' first job in product management was four years at real estate cybersecurity startup SafeChain Financial Inc.
"Not only did I fall in love with product management, but I learned a ton about the title industry," Harris said. "I have a ton of respect for them."
During her time at SafeChain Harris also did freelance market research for Drive Capital portfolio companies and prepared the annual report for the former trade group VentureOhio.
"I have always had entrepreneurial interests," she said. "We have been very lucky to have advisors from all walks of life and areas of the nation."
Empora advisors also include Chris Ritchie, COO of Finite State Inc., according to his LinkedIn. The Columbus startup, like Root in the Drive Capital portfolio, makes cybersecurity software for the internet of things.
Harris' involvement in Central Ohio tech events and groups set of a chain of introductions that helped Empora:
- Travis Hedge, a Columbus native and co-founder of digital business insurer Vouch Inc. in San Francisco, became her mentor, and introduced her to:
- Rafael Corrales, founder of Background Capital, a VC firm started in the San Francisco Bay area that moved to Madison, Wisconsin. He introduced her to:
- Max Levchin, co-founder and partner at San Francisco-based SciFi VC, who introduced her to:
- Eric Wu, co-founder and CEO of San Francisco digital real estate platform Opendoor Technologies Inc.
SciFi led a $4.6 million seed round last December, with Root and Opendoor.
"I couldn’t have been more fortunate to have been introduced to (SciFi) when I was," Harris said. "I have been overwhelmed with how positive they have been."
Background and SciFi introduced Harris to Raymond Tonsing, founder of Caffeinated Capital, also in San Francisco. Caffeinated led the $20 million series A, with participation by Background and a return investment from SciFi.
"Empora is extra special," Tonsing tweeted when Harris announced the launch. "It's the first Ohio startup I've backed. Go Ohio!"
Harris has collaborated with other real estate startups that want a streamlined title transfer as part of their own process. And the circle of advisors and partners include large legacy title companies – even though as a licensed title agency itself, the digital startup competes with them.
"There are many great people in the title industry who want to deliver a better experience but lack the tools," she said. "This is a very attainable problem to solve."
