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 and efficiency, enhance their property offerings, and create ancillary income. ​


With easy-to-implement offerings, Foxen solves the challenges faced by the rental housing industry. Through its flagship product, the Foxen Waiver, properties receive a comprehensive solution to manage renters’ insurance compliance. Simultaneously, the Foxen Waiver offers residents protection from damage to their units and personal belongings. The company furthers its commitment to empowering residents with Rentistry, a rent reporting solution that builds residents’ credit with on-time rental payments.​


Foxen was founded in Columbus, OH in 2018 and is backed by leading technology-focused growth equity firms Summit Partners and Level Equity.


Key Products


  • Foxen Waiver Program: Foxen’s comprehensive program for managing renters insurance compliance. They’ve automated the insurance monitoring process, ensuring protection for both properties and residents in the event of an incident.

  • Rentistry: Foxen’s win-win rent reporting tool incentivizes residents to make on-time rental payments with the opportunity to build credit and improve their financial wellness with no extra work required.


Customer Insights

Rental Housing Verticals Served



  • Multifamily

  • Single Family

  • Senior Housing

  • Manufactured Housing


Key Property Group Customers



  • Harrison Street

  • Cardinal Group Companies

  • Coastal Ridge Real Estate

  • University Partners


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


  • 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

Company Provided Benefits:



  • Company Provided Volunteer Days

  • Paid Parental Leave

  • Paid Voting Leave


Company-Wide Pelotonia Participant:



  • Raised $40,000 to date

  • 35 riders over the past 3 years