Cover Genius, a NYC-based global insurtech for embedded insurance, raised $70M USD in Series D funding.
The round was led by Dawn Capital, with participation from new investor Atlas Merchant Capital, and existing investors including GSquared and King River Capital.
The company intends to use the funds for business growth and expansion of its global insurance distribution platform, XCover.
Led by Angus McDonald, CEO and co-founder, Cover Genius offers embedded protection to multiple industries including airlines, travel and rental companies, retail, financial services, real estate, logistics, ticketing, gig economy and benefit companies and more. Its roster of partners includes digital companies, including Booking Holdings, owner of Priceline, Kayak and Booking.com, Intuit, Hopper, Skyscanner, Ryanair, Zip and SeatGeek. XCover, its global distribution platform, is also available at Amazon, eBay, Wayfair, Flipkart, and SE Asia’s largest company, Shopee.
The insurtech has also deepened its global capabilities by investing in India-based insurtech, ensuredIT, and broadened its reach in key verticals by acquiring a specialist in ticket refund protection, Booking Protect, –which brings market leaders onto the XCover platform.
The platform is licensed or authorized in more than 60 countries and all 50 US states and delivers personalized insurance and warranty products in any country, language and currency alongside available instant claim payments around the world.
