Porch to acquire Homeowners of America Holding and V12 from IA Capital Group for $122m.

Porch Group, a software developer, agreed to acquire Homeowners of America Holding, an insurtech firm, and V12, a software developer, from IA Capital Group, a private equity firm, for $122m. "HOA is a great business with a deep and experienced leadership team who have spent more than a decade building a growing, profitable, and innovative MGA and insurance company hybrid. Porch is equally enthusiastic about partnering with HOA's independent agents, which is a great fit with our B2B2C model, and using our other services to find more ways to deliver value to consumers by partnering with independent agencies," Matt Ehrlichman, Porch Founder, Chairman and CEO.