Porch Group, Inc. - PRCH STOCK NEWS

Porch Group (NASDAQ: PRCH) announced a conference call set for March 30, 2021, at 5:00 p.m. ET to discuss its financial results for Q4 and FY 2020, ending December 31, 2020. The financial results will be revealed in a press release prior to this call. Investors can register for the webinar and dial in using various US numbers. Porch Group provides services to over 11,000 home services companies, facilitating a moving concierge service that aids homebuyers in making informed decisions regarding essential services, including insurance and home repairs.

Porch Group, a vertical software platform for home services, has announced expansions in its leadership team to enhance business segments. New appointments include Adam Kornick as President of Insurtech, Andrew Beck as head of Contractor Tools SaaS, Malcolm Conner leading Home Services, and Manisha Patel as VP of Finance. These leaders bring a wealth of experience from notable companies and are expected to drive growth following Porch's recent merger with PropTech Acquisition Corporation and strategic acquisitions.

On January 21, 2021, Porch Group (NASDAQ:PRCH) announced its acquisition of V12, a top provider of purchase intent insight and marketing services. This strategic move integrates V12's extensive mover database and buyer intent signals with Porch's pre-move data capabilities, aiming to revolutionize mover and homeowner marketing. Porch serves over 10,500 home service companies, with plans to launch new solutions in Q2 2021. The acquisition positions Porch to capitalize on the lucrative mover marketing sector, leveraging proprietary data from both companies.

Porch Group, a leading vertical software company in the home services sector, has been invited to present at the Northland Capital Markets SPAC Conference on January 19-20, 2021. The presentation is scheduled for January 19 at 10:00 a.m. Eastern time and will be available for live streaming. Porch Group offers software and services to over 10,500 home service companies, including home inspectors and moving companies, helping streamline moving processes for homebuyers. For more information, visit porchgroup.com.

Porch Group (NASDAQ: PRCH) has signed definitive agreements to acquire Homeowners of America Holding Corporation (HOA) for $100 million, pending regulatory approval. The deal includes $75 million in cash and up to $25 million in cash or stock. HOA, operating in six states, is a profitable B2B2C insurance provider with plans for nationwide expansion. The acquisition aims to enhance Porch's insurance capabilities and leverage its existing software platform to build a leading InsurTech business. The transaction is expected to close in Q2 2021.

Porch Group has announced a definitive agreement to acquire Homeowners of America, aiming to enhance its service offerings as a Managing General Agent and insurance carrier. This merger, pending regulatory approval, is projected to close in Q2 2021. The acquisition accelerates Porch's mover marketing strategy and expands its total addressable market by nearly $100 billion. Porch has raised its 2021 revenue outlook to $170 million, signaling a 134% year-over-year growth. The deals include the purchase of V12 for a combined $122 million, bolstering Porch's capabilities in both insurance and marketing.

Runway Growth Credit Fund reported strong operational results for Q4 2020, completing $132.4 million in loans and investments, bringing total loan principal to $510 million across 23 companies. The Fund noted increased demand in the life sciences and technology sectors and successfully adapted operations during the pandemic. Liquidity stood at over $180.9 million, bolstered by a $215 million revolving credit facility. The Fund is optimistic about surpassing $1 billion in loan commitments since inception in December 2016.

Porch Group (Nasdaq: PRCH, PRCHW), a leader in the home services software industry, is set to present at the 23rd Annual Needham Growth Conference from January 11-15, 2021. The presentation is scheduled for January 11 at 2:45 p.m. Eastern time, with one-on-one meetings available throughout the event. Attendees can access the live webcast and replay here.

PropTech Acquisition Corporation (NASDAQ: PTAC) announced that its stockholders overwhelmingly approved the business combination with Porch.com, Inc. on December 21, 2020. With 99.99% support, stockholders voted to retain shares, resulting in over $322 million in gross proceeds to accelerate growth in a $220 billion market. The merger will finalize on December 23, 2020, after which the combined entity will operate as Porch Group, Inc. under the ticker PRCH. This vote reflects confidence in Porch's vertical SaaS business model and growth strategy.