Super buys Platinum Home Warranty
Super, an insurtech company that provides subscription care for the home, announced its acquisition of Platinum Home Warranty.
The combination brings together Platinum’s in-house technician approach to service delivery, and Super’s data-driven approach to driving high performance of third-party contractors, to create new opportunities to drive more value for customers in the care of their home, said Super.
“Super and Platinum share many of the same attributes and values,” said Jorey Ramer, founder and CEO at Super. “We’ve built cultures that care deeply about making the lives of homeowners easier and innovating in a category that has historically delivered poor service for homeowners. Together, we’ll continue to work to improve the homeowner experience.”
Headquartered in Phoenix, a key market in the home warranty industry, Platinum has served homeowners for more than a decade.
With a differentiated business model centered on greater control of service delivery with an in-house team of technicians, Platinum has grown successfully in a highly competitive home warranty market.
This acquisition complements Super’s performance-driven service delivery model with third-party contractors with the addition of Platinum’s in-house team of technicians that service customer claims, said the company.
Adding a team of in-house technicians to Super’s vetted network of contracted service providers offers compelling benefits of reduced financial risks, support of in-field research and development efforts, and enhanced quality control.
“Inevitably, acquisition deals come with challenges and unknowns, but when a company is the right fit, the rewards far outweigh the risks,” said Nilanshu Raja, CFO at Super. “The addition of Platinum boosts our value to customers, strengthens our competitive differentiation, and better positions us to meet our long-term financial goals.”
Initially, Super will set up the company to operate as a stand-alone division under the Platinum Home Warranty name, and service and support will continue uninterrupted for customers. Alex Helt will continue leading Platinum as managing director of the division.
“Since its inception, Platinum Home Warranty was focused on creating a home warranty experience rooted in trust, integrity, and dedicated support for our customer. I’m incredibly proud of what the Platinum team has built,” said Matt Widdows, founder and previous owner of Platinum Home Warranty.
Super is a San Francisco-based insurtech company. Powered by a proprietary data platform and backed by leading investors, Super offers subscription-based care for your home.