Welcome to our dedicated page for Porch Group news (Ticker: PRCH), a resource for investors and traders seeking the latest updates and insights on Porch Group stock.
Porch Group, Inc. (Nasdaq: PRCH) is described in its public communications as a new kind of homeowners insurance company. Its news flow centers on homeowners insurance performance, software and data initiatives, and investor-focused updates, giving readers insight into how the company combines insurance services with vertical software and property intelligence.
Regular earnings releases and related Form 8-K filings provide details on Porch’s results for Porch Shareholder Interest, which includes the Insurance Services, Software & Data, and Consumer Services segments. These updates discuss segment performance, key performance indicators, and management’s commentary on its operating model following the formation of the Porch Reciprocal Exchange.
Product and data announcements highlight the evolution of Porch’s Home Factors property intelligence platform. News items describe new property attributes such as electrical panel location, roof life stage, and plumbing material indicators, as well as case studies where Home Factors data supported underwriting improvements for carriers or high-return marketing campaigns for other businesses.
Porch also issues investor event announcements, outlining participation in conferences, non-deal roadshows, and webinars where management meets with investors and discusses the business. These releases often reiterate Porch’s strategy to deploy vertical software in home-related industries, provide services for homebuyers including moving services, leverage unique data for underwriting, and offer more protection for policyholders.
By following PRCH news, readers can track developments in Porch’s homeowners insurance strategy, the expansion of its software and data offerings, and ongoing communications with the investment community. This page aggregates those updates so investors and observers can review the company’s reported progress and strategic messaging over time.
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.
PropTech Acquisition Corporation (NASDAQ: PTAC) reminds stockholders to vote for the proposed business combination with Porch.com, Inc. The vote will take place virtually on December 21, 2020, at 11:00 a.m. Eastern time. Stockholders are encouraged to ensure their shares are voted, as the deadline for proxy submission is December 20, 2020. Notably, less than 1,000 public shares were submitted for redemption, leaving approximately $173 million in PropTech’s trust account, which will be released upon closing the business combination.
The leadership teams of PropTech Acquisition Corporation (NASDAQ: PTAC) and Porch.com, Inc. are set to host a virtual investor day on December 1, 2020, from 2:00 to 4:00 PM ET. The presentation will detail Porch's product roadmap and introduce new team members. This event follows the definitive merger agreement announced on July 30, 2020, which aims to take Porch public. Post-merger, PropTech will be renamed Porch Group, Inc. and listed under the new ticker PRCH.
Porch, a leading home services platform, is nearing completion of its business combination with PropTech Acquisition Corporation (NASDAQ: PTAC). This merger is expected to finalize in Q4 2020. Porch's CEO, Matt Ehrlichman, highlighted the company's unique fully integrated software platform, which has proven beneficial to nearly two-thirds of U.S. homebuyers in recent transactions. An initial registration statement was filed with the SEC as part of the merger process. More details about Porch and its services can be found on their website.