NEW YORK, June 17, 2021 /PRNewswire/ -- Rhino, the New York City-based insurtech company that pioneered security deposit insurance, today announced a major expansion of its Enterprise Sales, Success, and Support teams. The company's first step under SVP of Revenue, Andrew Delbridge, is to add four key members to its team including Cheri Barber, Enterprise Senior Sales Manager. Rhino will continue to expand its focus on enterprise partners after the company announced its $95 million funding round earlier this year. The insurance solution for renters that increases leasing velocity for property owners is currently offered in over 1.3 million homes across the U.S.
Rhino's core Enterprise team led by Barber, former Sales Manager at Assurant Specialty Property, also welcomed Enterprise Account Executives Trevor Hill from Entrata, Jay Stoltz from Realpage, and Sean Fox from Datadog. Each brings extensive experience from the multifamily and insurance industry.
"The addition of Cheri and team not only marks the beginning of a major investment in our Enterprise Sales department but our investment in our partners across Rhino," said Andrew Delbridge, SVP of Revenue. "We're expanding both our Success and Support teams to better serve properties throughout our partnership and to champion the NOI benefits of replacing cash security deposits with low-cost insurance for renters."
Rhino's security deposit insurance acts as a direct replacement for a cash security deposit. Instead of a large upfront cash deposit, renters pay Rhino a small monthly fee that can be as little as $5 per month, and Rhino insures the property owner for damages that might occur and lost rent.
"I've never seen a product in the multifamily industry with such a high upside for properties at no cost to their bottom line, while benefiting the renter experience," said Barber. "The opportunity to maintain protection while cutting administrative costs, reduce bad debt, and fill vacancies faster is unprecedented."
Rhino's extensive network of partners includes Highmark Residential, UDR, Brookfield, Peak Living, Towne Properties, and Real Property Management.
About Rhino: Rhino was founded to give renters everywhere greater financial freedom to plan and enjoy their lives. We eliminate the need for traditional security deposits by replacing them with smart, affordable insurance so renters can maintain control of their cash. Instead of a large upfront cash security deposit, renters pay Rhino a small monthly fee, and Rhino insures the property owner for damages that might occur and lost rent. To date, we are offered in over 1 million homes, and we have saved renters over $300 million in cash.