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Cover Announces $16M Series B led by Tribe Capital

Bill Sinn | October 02, 2018

Cover is excited to announce the closing of its $16 million Series B funding round led by Tribe Capital with contributions from Samsung, Y Combinator, Exor and Social Capital. This funding sets the company up to continue its mission of taking the complexity out of buying insurance.

Cover will be growing rapidly to enable them to offer an even better experience – from more expert insurance agents to help you find the right policy, to extra engineers implementing technology to make getting coverage even more convenient.

They’ve come a long way since Cover was operating out of a house in San Francisco. Their team has grown tenfold and they’ve helped thousands of people find better coverage with minimum hassle.

The positive customer response they have received has been energizing and highlights the pressing need for simpler, easier insurance.

It is an exciting time for Cover and there are big developments to look forward to.

There will be improvements to the mobile app to make buying insurance even more straightforward. For example, they're working to allow policyholders to arrange even more policy details via text message, to cut down the amount of time people will need to talk on the phone.

Beyond the app, they’ll be launching Cover Driving School – an online course that promotes safe driving as a way to lower insurance premiums.

They’ll also be releasing a new e-commerce tool on Shopify called Cover Warranties and eventually expanding all of their services across the US and Canada. 

Further down the line, there are still major opportunities to use the power of technology to make insurance as user-friendly as they believe it should be.

 

 


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