“Can Rhino replace the cash security deposit system entirely and become the embedded financial protection layer for the US rental market?”
Founded in 2017, Rhino set out to replace the traditional cash security deposit with a low monthly insurance premium, enabling renters to avoid large upfront costs while giving landlords equivalent protection. The company scaled rapidly, tripling headcount and growing contracted ARR from $4M to $60M between 2019 and 2021 on the back of a $95M Tiger Global-led round. Rhino subsequently expanded its embedded insurance offering by partnering with Cover Genius to distribute broader renter protection products in-app, moving from a single-product insurtech toward a multi-product renter financial services platform. The company uses AI/ML decisioning infrastructure (Taktile) to power risk assessment and underwriting workflows.
Rhino uses Taktile for fraud prevention.
Rhino was founded by Paraag Sarva and Ankur Jain and is founded in 2017, headquartered in New York, NY, USA (99 Wall Street, Suite 1504).
Rhino has raised $132.7M in total (latest round: Series D; valuation: ~$500M (pre-IPO, January 2021)).
Get a read on where your own stack stands against Rhino and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.