Cover Genius Raises $80M Series E

Cover Genius, a NYC-based insurtech company for embedded protection, raised $80M in Series E funding.

The round was led by Spark Capital with support from existing investors, including Dawn Capital, King River Capital and G Squared.

The company intends to use the funds to expedite its growth plans and continue to invest in technology, including improved digital insurance distribution solutions, deploying Artificial Intelligence (AI) claims handling and expanding the protection solutions available on the platform.

Led by CEO Angus McDonald, Cover Genius leverages XCover, its distribution platform, to protect the customers of digital companies with end-to-end experiences. Licensed or authorized in over 60 countries and all 50 US States, the insurtech enables partners to embed and sell multiple lines of insurance and other types of protection.

By leveraging AI and data-driven insights, the platform enables partners to provide a wide range of insurance and other types of protection across various market segments. With a focus on customization, Cover Genius offers both bundled and standalone solutions.

Commenting on the news, Angus McDonald said: “Our collaborations with well-known brands, including Uber, Ryanair, and eBay, demonstrate our unique ability to create customer-centric protection solutions backed by technology, policy innovation, and industry expertise.”