Rhino
Replacing the traditional cash security deposit with affordable insurance.
Overview
Rhino is America's leading security deposit alternative platform, replacing the traditional upfront cash security deposit with low-cost insurance. Renters pay a small monthly premium instead of a lump-sum deposit, while landlords and property owners receive equivalent financial protection against damage and unpaid rent.
Founded in 2017 and headquartered in New York, Rhino operates as a licensed insurance agency in all states, acting as general agent for insurance carriers. The company has raised USD 177 million in total funding across nine rounds, including a USD 95 million round in January 2021. By 2022, Rhino reported USD 102 million in annualized gross written premium and serves thousands of apartment communities across the United States.
Products & Services
Security Deposit Insurance
Replaces the traditional cash security deposit. Renters pay a small monthly premium; Rhino provides coverage equal to or greater than the required deposit amount.
Key Features
- Coverage typically equal to the required cash deposit amount
- Low monthly premiums averaging over 90% savings vs. upfront deposit
- Covers unpaid rent, property damage, and other landlord losses
- Renters retain responsibility to reimburse Rhino for approved claims
Target Users: Renters and residential property operators
Renters Insurance
Personal renters insurance offered as an add-on option in partnership with Lemonade.
Key Features
- Personal property protection
- Liability coverage
- Integrated with Rhino platform
Target Users: Renters seeking comprehensive coverage
At a Glance
- Founded
- 2017
- Headquarters
- New York, New York
- Employees
- 51-200
- Funding
- Series C+
Category & Focus
- Category
- Property Insurance
- Subcategories
- Security Deposit Insurance Renters Insurance PropTech Insurance
- Insurance Verticals
- P&C
- Target Customers
- Renters, Property Managers, Landlords, Multifamily Operators
Customers
- Multifamily residential real estate operators
- Property management companies
- Individual renters
Last updated: 2026-05-17