Cover Genius, a leading insurtech specialist, has recently secured $80 million in a Series E funding round. The New York-based company, founded in 2014, received the investment led by Spark Capital, with existing investors such as Dawn Capital, King River Capital, and G Squared also participating. Cover Genius reported achieving an impressive 107% year-over-year growth in 2023 and plans to use the funds for further growth and technology investment.
The company’s focus is on creating innovative solutions that provide digital companies with distinct methods for distributing protection products. This includes cancel for any reason, delay valet, protection pocket, and other protection types. Angus McDonald, co-founder and CEO of Cover Genius, expressed gratitude for the trust displayed by investors and highlighted the company’s resilience and growth potential. He emphasized a strategic focus on key markets such as travel, retail, ticketing, and logistics, noting collaborations with well-known brands like Uber, Ryanair, and eBay.
James Kuklinski of Spark Capital praised Cover Genius’ technology platform and global presence while also highlighting their focus on digital claims handling. Cover Genius had previously raised $70 million in Series D funding in late 2022 following a similar-sized Series C round in 2021.
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