Super Acquires Platinum Home Warranty

SAN FRANCISCO, Feb. 10, 2022 /PRNewswire/ -- Super, an insurtech company that provides subscription care for the home, today announced its acquisition of Platinum Home Warranty. The combination brings together Platinum's unique 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.

Headquartered in Phoenix, a key market in the home warranty industry, Platinum is a trusted, home warranty business that 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.

"Super and Platinum share many of the same attributes and values," said Jorey Ramer, Founder and CEO, 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 homeownership experience."

The 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. 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 & 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, Chief Financial Officer, 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 standalone 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. "The team's hard work has led us to this opportunity to join Super during a remarkable time of growth and help advance the company's mission to make caring for a home carefree."

The acquisition of Platinum follows a succession of notable wins that Super has achieved in less than a year. Since announcing a $50M Series C round in the spring of 2021, the company has been on a growth trajectory that includes geographical expansion to Georgia and North Carolina, the rollout of In the Clear, a first-of-its-kind offering in the real estate industry, and being selected as a top home warranty provider by LeadingRE, the world's largest network of market-leading independent residential brokerages.

About Platinum Home Warranty
Since 2011, Platinum Home Warranty has brought personal touch to the home warranty process. Based in Scottsdale, Arizona, Platinum uses local and vetted in-house technicians, assuring that every claim is handled by an expert who will treat your home just like their own. With Platinum's dedicated customer care team, clients can expect quick scheduling and service, as well as personalized follow-up calls to deliver high customer satisfaction. To learn more about the Platinum perspective, visit our website at www.platinumhw.com.

About Super
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. Partnering with the best local servicers to deliver quick and effective home repair and maintenance at a predictable cost, Super's vision is to make caring for a home carefree. Visit www.hellosuper.com for more information.

Media Contacts
Market Street Group for Super
Angela Baldwin / Bill Donlan
[email protected]

SOURCE Super