About Cover Genius
Cover Genius is a company based in New York (United States) founded in 2014 by Angus James Ridley Mcdonald, Chris Bayley, Angus McDonald, and Christopher Robert Bayley. Cover Genius has raised $243.6 million across 7 funding rounds from investors including Sompo Holdings, Regal Funds Management and Dawn Capital. Cover Genius has completed 2 acquisitions, including Booking Protect and Clyde. Cover Genius offers products and services including XCover, RentalCover, XClaim, and BrightWrite. Cover Genius operates in a competitive market with competitors including Zopper, Bolttech, Qover, Open and Lami, among others.
- Headquarter New York, United States
- Founders Angus James Ridley Mcdonald, Chris Bayley, Angus McDonald, Christopher Robert Bayley
- Stage Minicorn
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Sectors
Financial Services
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Email
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Phone
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Website
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Social
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- Legal Name Cover Genius India Private Limited
- Date of Incorporation 09 Sep, 2020
- Jurisdiction Mumbai, Maharashtra, India
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Annual Revenue
$21.6 K (USD)0as on Mar 31, 2022
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Net Profit
-$385.01 K (USD)-427.96as on Mar 31, 2022
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EBITDA
-$365.2 K (USD)-400.79as on Mar 31, 2022
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Total Equity Funding
$243.6 M (USD)
in 7 rounds
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Latest Funding Round
$80 M (USD), Series E
May 15, 2024
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Investors
Sompo Holdings
& 9 more
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Employee Count
Not available
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Investments & Acquisitions
Booking Protect
& 1 more
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Products & Services of Cover Genius
Cover Genius offers a comprehensive portfolio of products and services, including XCover, RentalCover, XClaim, and BrightWrite.
Platform for global protection and instant claims processing
Service for worldwide rental car protection offerings
System for instant claims payments in multiple currencies
Tool for real-time price and product recommendations
People of Cover Genius
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Funding Insights of Cover Genius
Cover Genius has successfully raised a total of $243.6M across 7 strategic funding rounds. The most recent funding activity was a Series E round of $80 million completed in May 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in Cover Genius
Cover Genius has secured backing from 10 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Sompo Holdings, Regal Funds Management and Dawn Capital.
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Spark Capital is engaged in venture capital investments.
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Dawn Capital is focused on investing in European software startups.
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Venture capital firm investing in high growth software companies
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Investor details for Cover Genius
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Investments & Acquisitions by Cover Genius
Cover Genius has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Booking Protect and Clyde.
Investment portfolio details for Cover Genius
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- Portfolio identities
- Transaction dates
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| Company Name | Description | Domain | Location | Founded Year | Amount |
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Warranty management solutions are provided for insurance businesses.
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Ticket booking protection solutions are provided through a specialized platform.
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Locked | Locked | 2014 | Locked |
Complete acquisition details for Cover Genius
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Financial Statements - Cover Genius
Detailed financials for Cover Genius
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Cover Genius Comparisons
Peer comparison for Cover Genius
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Competitors of Cover Genius
Cover Genius operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Zopper, Bolttech, Qover, Open and Lami, among others.
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API-enabled insurance distribution platform is provided for B2C companies.
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Insurance solutions are connected for businesses and individuals through partnerships.
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Software suite for designing and distributing digital insurance is offered.
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AI-based software suite is offered for insurance industry operations.
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A software suite is provided for insurers and underwriters.
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Detailed competitors of Cover Genius
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Latest news on Cover Genius
Complete news archive for Cover Genius
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Frequently Asked Questions about Cover Genius
Cover Genius was founded in 2014 and raised its 1st funding round 5 years after it was founded.
Cover Genius is headquartered in New York, United States. It is registered at New York, New York, United States.
Angus McDonald is the current CEO of Cover Genius. They have also founded this company.
Cover Genius is a funded company, having raised a total of $243.6M across 7 funding rounds to date.
Annual revenue of Cover Genius is $21.6K as on Mar 31, 2022.
Provider of a software suite for the insurance industry. It offers products for insurance distribution and offers an insurance distribution platform for rental car companies, online car agencies, and OTAs to sell rental car insurance. It offers instant claims management and payments. It offers data analytics and a shake shield for parametric earthquake protection with automated payments to business customers. Its platform for insurance and warranties allows fintech, banks, issuers, neo banks, payments platforms, gateways, POS vendors, accounting and origination platforms, lenders of any stripe, merchants, auto dealers, and more to sell or embed personal and commercial insurance lines.
Cover Genius offers XCover, RentalCover, XClaim, and BrightWrite.
Cover Genius has made 2 acquisitions, including Booking Protect, and Clyde.
Cover Genius has 10 investors. Key investors include Sompo Holdings, Regal Funds Management, Dawn Capital, Spark Capital, and King River.
The valuation of Cover Genius is $729M as of Sep 2021.