Landlord insurance startup using $30M round to invest in KC team; here’s where its hiring

An eight-figure funding injection is expected to allow Steadily to fuel growth in its greatest asset: talent, shared OverlandPark-based co-founder and COO Datha Santomieri.

On Wednesday, the landlord insurance startup — with headquarters in Overland Park and Austin, Texas — announced a $30 million Series C round led by Two Sigma Ventures with participation from Clocktower Technology Ventures, Belfer Investment Partners, Nine Four Ventures, and Matrix Partners at a valuation of $355 million.

This investment will allow Steadily — founded by Santomieri, Darren Nix, and David Tulig — to add as many as 100 people to its engineering, insurance product, and agency success teams, Santomieri continued.

“Our greatest asset is our teammates,” she added. “If I had to assign our success to a single thing, it’s to the caliber and the quality of our team.”

“Our engineering team is all in Austin,” she continued, “so we’ll add a significant number of engineers just to continue building out the product. But our insurance product and our agency success teams are based here in Kansas City, and so we’re making a meaningful investment into growing those teams.”

Click here to check out job openings at Steadily.

The latest round brings the total funding for Steadily — which just moved into a new 17,000-square-foot office in Overland Park’s Corporate Woods — to $89.5 million, following its $28.5 million Series B in 2023, the startup noted.

“It feels incredible,” Santomieri said of the company’s trajectory. “I have to pinch myself sometimes because in some ways I can’t believe it’s only been five years. But in other ways, it feels like a lifetime that we’ve been at this. We’ve had raises before and we’ve seen great growth and evaluation of the company, but coming back with that $355 million valuation, it was validation of everything we’ve been working on for the last five years.”

Since launching in 2020, Steadily — which serves a market of 18 million individual rental property owners — has rapidly gained traction as a fast, affordable insurance provider for real estate investors, according to the startup. 

“We’ve invested tens of millions in tech so someone can come to Steadily and purchase high-quality insurance in seconds,” said Nix, co-founder and CEO, in a statement. “This latest round lets us push the envelope of how speedy our service and claims can be.”

Santomieri and her co-founders started Steadily from the personal pain of not being able to easily get insurance for the rental properties they owned, she said. 

“The goal was to create the best and most sophisticated landlord insurance product in the world, and that’s what we’ve been working on for the last five years,” she explained. “I think the reason why the opportunity was ripe is because the market is very fragmented there.”

“There’s hundreds of insurance carriers who will write a landlord policy,” she continued, “but it’s always an afterthought to home and auto. So when they spend their investment dollars and their idea and their energy into building something, it’s always going to be investing in the home and auto, because that’s the largest part of their business. And so then the landlord just kind of gets whatever’s left over.”

Despite owning 40 percent of America’s rental units, individual landlords have been dramatically underserved by the insurance industry, noted Colin Beirne, partner at Two Sigma Ventures. 

“Steadily created a solution specifically designed for rental property owners, not just retrofitted homeowner policies,” he said in a statement. “As landlords themselves, they understood the pain points firsthand and built technology that simplifies the entire process. Their impressive growth confirms they’re addressing a significant need in the market. We’re thrilled to back Darren and the Steadily team as they continue to transform insurance for America’s millions of property investors.”