Foxen
Insurtech
Columbus, OH

Overall Rank: 75
Category: Insurtech
Category Rank: 11

Profile

Foxen is an innovative fintech company that helps real estate owners and operators manage risk, drive efficiency, enhance their property offerings, and grow operating income and asset value.


With easy-to-implement products, Foxen is focused on solving challenges faced by the rental housing industry by creating products that positively impact properties and create financial wellness for residents. The Foxen Waiver program is an end-to-end comprehensive solution that manages renters’ insurance compliance, providing protection for both properties and residents in the event of an incident. Foxen’s Rentistry program empowers renters to build and enhance their credit by reporting rent payments to leading Credit Bureaus while simultaneously driving on-time rent payments for properties.


Visit www.foxen.com


Key Products

Foxen Waiver Program: Their flagship product helps properties and their residents stay compliant at all times, reducing property risk, while creating an additional revenue source. Their proprietary technology automates the insurance monitoring process ensuring no gaps in protection for both properties and residents in the event of an incident.


Rentistry: Their rent reporting program is a win-win for properties and residents. Rentistry incentivizes residents to make on-time rental payments with the opportunity to build credit and improve their financial wellness and creates a new revenue stream for properties.


Captive Services:

Admin Only Services: If you already have a captive insurance company to self-insure against resident-caused property damage, Foxen offers their end-to-end renters insurance compliance monitoring and customer support to administer your waiver program.


Captive Formation Solutions: Foxen offers qualifying customers two options to form their own captives. Customers can select the path that best fits their unique needs and benefit from their end-to-end renters insurance compliance monitoring and customer support.


Customer Insights

“The ease of use and communication between Foxen and the on-site staff makes the transition as ease.” – University Partners


“Since we started working together, I’ve always appreciated the partnership and product. Knowing we are secure, and no one is getting missed from a coverage standpoint is very important.” – Tides Equity


“Team is great, service strong, and wonderful product. Happy Camper!” – Dakota Enterprises


“I have always enjoyed everyone at Foxen. I appreciate the amazing service and patience of everyone. I can’t recommend the organization enough as an employer to people or for the service!” – Pillar Properties


Statistics


  • Full-Time Foxen Team Members: 115

  • Unique Property Customers: 200

  • Rental Units Actively Serviced: 850,000

  • Revenue Exceeding $30M

  • YOY Growth: 3 Year Average: 110%

  • Program Absorption Rate:

    • Foxen Waiver = 75%

    • Rentistry = 55%




Key Executives


  • Jay Harkrider, CEO & Co-Founder

  • Kevin Jacobson, President

  • Kelli Stiles, Chief Legal and Insurance Officer

  • Meghann Carroll, Chief Revenue Officer


Organizational Insights

The Foxen Team is comprised of a strategic blend of Technologists, Product Innovators, Customer-focused professionals, Insurance and Legal experts, and Real Estate Industry veterans. The team has been carefully put together to deliver industry-leading products to their customers, who they consider their partners.


As indicated in their company vision and mission, Foxen is passionate about delivering mutual benefits to both sides of the lease agreement – properties and their residents.


Foxen keeps its focus on its unique business model, which is centered around lease-embedded solutions. By providing their products through the lease, they are able to minimize work for their property group customers and instantly and seamlessly deliver those products to their residents.


Foxen prides itself on its technology. It consists of its extensively developed back-end API integrations and front-end technology to provide both property customers and residents with exceptional user experiences.


Foxen firmly believes that by continually delivering for their customers, they will build brand loyalty and continually gain brand recognition.


Board Members


  • Jay Harkrider, CEO & Co-Founder

  • Patrick McBride, Co-Founder & Investor

  • Andrew Lallathin, Co-Founder & Investor

  • Colin Mistele (Summit Partners)

  • Ben Levin (Level Equity)


Investors


  • $44M in first round of funding

  • Level Equity

  • Summit Partners


Key Milestones


  • 2018: Oxford Insurance Company formed and domiciled in Uta (Single Parent Captive) 

  • 2019: Rebranded to Foxen 

  • 2019: 7 Team Members

  • 2021:Foxen enables Contents Coverage

  • 2021: Foxen Launches Rentistry

  • 2021:#11 on Fast 50 Fastest Growing Companies

  • 2021: 30 Team Members

  • 2022: Foxen closes Series-A Capital Investment

  • 2022: #1,492 on Inc. 5000 Fastest-Growing Private Companies

  • 2022: 76 Team Members

  • 2023: Foxen acquires a 30k sq.ft. long-term office space

  • 2023: #2,106 on Inc. 5000 Fastest-Growing Private Companies

  • 2023: #6 on RedHawk50 Fastest Growing Private Companies Around the World Founded or Led by Former Students of Miami University

  • 2023: 100 Team Members

  • 2024: Foxen Partners with InsuraMatch, a Travelers Company, to provide a comprehensive Renters’ Insurance Policy to residents

  • 2024: Foxen Acquires its 200th Unique Property Group Customer

  • 2024: Named by CIOReview as a Top Fintech Solutions Provider


News and Press Releases


  • April 2024: President and key leaders in place (Read).

  • April 2024: Delivering Property Efficiencies and Resident Wellness (Read).


To view their full press release, click here.


Competitors

Industry Competitors:



  • Jetty

  • The Guarantors

  • Second Nature


Tenant Legal Liability Competitors (Foxen Waiver):



  • Get Covered

  • EPremium

  • RLL

  • Assurant


Rent Reporting Competitors (Rentistry):



  • Esusu

  • Bilt

  • Boom

  • Rent Dynamics

  • CredHub


Corporate Responsibility

Foxen is committed to advancing financial wellness through real estate and creating solutions that benefit property owners, operators and residents.


Foxen is committed to giving back to their communities. They do this by providing company paid volunteer days for employees to spend their time on causes of their choice. In addition, they sponsor a Pelotonia team in their hometown of Columbus, OH. Pelotonia is a community that is passionate about Ending Cancer by accelerating funding for innovative cancer research, as it hosts its signature series of iconic and impactful events with cycling, entertainment, and volunteerism experiences. To date, the Pelotonia community has raised more than $283 million. With support from generous funding partners, Pelotonia directs 100 percent of every dollar raised by participants to cancer research at The Ohio State University Comprehensive Cancer Center – Arthur G. James Cancer Hospital and Richard J. Solove Research Institute, including the Pelotonia Institute for Immuno-Oncology.


Other Company Provided Benefits:



  • Company Provided Volunteer Days

  • Paid Parental Leave

  • Paid Voting Leave