Porch Group Set to Join Russell 2000® Index

Rhea-AI Summary

Porch Group is set to join the Russell 2000 Index effective June 28, 2021, marking a significant achievement since its public listing. This inclusion reflects Porch's strong momentum and aims to boost its visibility in the market. The Russell indexes are pivotal for investment managers and are benchmarked by approximately $10.6 trillion in assets. Porch Group provides software and services to over 14,000 home services companies, enhancing the home buying experience through various essential services.

Positive

• Inclusion in the Russell 2000 Index enhances market visibility and credibility.
• Porch Group's performance reflects strong momentum since going public.

Negative

• None.

SEATTLE, June 22, 2021 (GLOBE NEWSWIRE) -- Porch Group, Inc. (“Porch” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing the home services industry, today announced that it is set to be added to the Russell 2000^® Index at the conclusion of the Russell US Indexes annual reconstitution, effective at the opening of the U.S. equity markets on June 28, 2021.

“We have demonstrated strong momentum since becoming a public company, and Porch’s addition to the Russell 2000 is a reflection of our progress,” said Matt Ehrlichman, founder, chairman and CEO of Porch Group. “We welcome the enhanced visibility as we continue to execute on our strategy to drive sustained growth and capitalize on the massive opportunity ahead.”

Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 7, ranking them by total market capitalization. Membership in the US all-cap Russell 3000^® Index, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 3000^® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

About Porch Group
Seattle-based Porch Group, the vertical software platform for the home, provides software and services to more than 14,000 home services companies such as home inspectors, moving companies, real estate agencies, utility companies, and warranty companies. Through these relationships and its multiple brands, Porch provides a moving concierge service to homebuyers, helping them save time and make better decisions on critical services, including insurance, moving, security, TV/internet, home repair and improvement, and more. To learn more about Porch, visit porchgroup.com and porch.com.

About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $17.9 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com.

Investor Relations Contact:
Cody Slach/Matt Glover/Alex Thompson
Gateway Group, Inc.
(949) 574-3860
PRCH@gatewayir.com

Porch Press contact:
Jordan Schmidt
Gateway Group, Inc.
(949) 574-3860
PRCH@gatewayir.com

FAQ

When will Porch Group be added to the Russell 2000 Index?

Porch Group will be added to the Russell 2000 Index on June 28, 2021.

What does the inclusion in the Russell 2000 Index mean for Porch Group (PRCH)?

Inclusion in the Russell 2000 Index is expected to enhance Porch Group's visibility and credibility among investors.

How much in assets are benchmarked against the Russell US Indexes?

Approximately $10.6 trillion in assets are benchmarked against the Russell US Indexes.

What services does Porch Group provide?

Porch Group provides software and services to over 14,000 home services companies, aiding homebuyers in making informed decisions.