Series E Funding Secures Cover Genius $80M in Latest Investment Round

• Cover Genius closes $80M in Series E Funding led by Spark Capital
• Achieved 107% year-on-year growth in 2023
• Maintained 145% Net Revenue Retention by partnering with global digital businesses
• Focus on key markets like travel, retail, ticketing, and logistics
• Plans to invest in cutting-edge technology, including AI claims handling, to expand protection solutions

Cover Genius Closes $80M in Series E Funding

In the fast-evolving world of insurtech, Cover Genius has made significant waves by closing an impressive $80M in Series E funding. This funding round, led by Spark Capital with support from existing investors, marks a pivotal moment for the company as it continues to disrupt the insurance industry with its innovative approach to embedded protection.

Investors See $700 Billion Opportunity in Embedded Protection

With the global embedded protection market estimated to be a $700 billion opportunity, investors have recognized the potential for growth and innovation in this space. Cover Genius has positioned itself as a frontrunner in providing embedded protection solutions to over 30 million customers worldwide, partnering with leading digital businesses such as Uber, Ryanair, and eBay to deliver customer-centric protection backed by technology and industry expertise.

Cover Genius’s Strategic Focus on Key Markets

CEO and co-founder of Cover Genius, Angus McDonald, highlights the company’s strategic focus on key markets such as travel, retail, ticketing, and logistics. By collaborating with well-known brands and leveraging its award-winning global distribution platform, XCover, Cover Genius has demonstrated its unique ability to create tailored protection solutions that meet the evolving needs of digital businesses and consumers.

Related Video

Published on: June 23, 2020 Description: Watch the video to get an overview of different funding options, the money involved in each funding options and how we can help.

Series A, B, C, D, and E Funding: How It Works?

Driving Innovation Through Cutting-Edge Technology

The Series E funding will enable Cover Genius to accelerate its growth plans and invest in cutting-edge technology, including AI claims handling and expanded protection solutions. By enhancing its tech capabilities and offering innovative protection products like Cancel For Any Reason (CFAR) and Delay Valet, Cover Genius aims to drive the creation of distinct solutions that redefine how protection products are distributed in the digital age.