Root Insurance largest markets are Texas, Georgia, and Colorado, where approximately 35% of customers for the year ended December 31, 2022 reside.

In 2021, Manges co-founder retired as CTO but remained a consultant to the company through December 2021.

The deal, initially formed around a $126 million investment by Carvana for a 5% stake in Root, includes warrants that can be exercised at certain stages or tranches.

The collaboration uses both companies technologies to develop an embedded experience for customers purchasing a car with Carvana.

[9] For 2024, Root signed a multi-race sponsorship deal with Chip Ganassi Racing to sponsor both Álex Palou and Marcus Armstrong in the IndyCar Series.