About Cover Whale
Cover Whale is a company based in Rancho Santa Margarita (United States) founded in 2019 by Daniel Abrahamsen.. Cover Whale has raised $83 million across 4 funding rounds from investors including Morgan Stanley, Ambac Financial Group and TigerRisk Partners. Cover Whale offers products and services including Commercial Auto Insurance, Driver Safety Program, and Quoting Platform.
- Headquarter Rancho Santa Margarita, United States
- Founders Daniel Abrahamsen
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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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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$83 M (USD)
in 4 rounds
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Latest Funding Round
$40 M (USD), Series A
Jul 28, 2025
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Investors
Morgan Stanley
& 2 more
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Employee Count
Employee Count
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Products & Services of Cover Whale
Cover Whale offers a comprehensive portfolio of products and services, including Commercial Auto Insurance, Driver Safety Program, and Quoting Platform. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Provides liability and cargo coverage for trucking risks.
AI-driven coaching to reduce unsafe driving actions.
Offers instant policy quotes for insurance agents.
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Funding Insights of Cover Whale
Cover Whale has successfully raised a total of $83M across 4 strategic funding rounds. The most recent funding activity was a Series A round of $40 million completed in July 2025. 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.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series A — $40.0M
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First Round
First Round
(05 Oct 2021)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2025 | Amount | Series A - Cover Whale | Valuation |
investors |
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| May, 2024 | Amount | Debt – Conventional - Cover Whale | Valuation |
investors |
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| May, 2024 | Amount | Series A - Cover Whale | Valuation | Morgan Stanley |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Cover Whale
Cover Whale has secured backing from 3 investors, including institutional investors. Prominent investors backing the company include Morgan Stanley, Ambac Financial Group and TigerRisk Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Wealth management, investment advisory, and financial services are provided.
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Founded Year | Domain | Location | |
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Diversified investment management services are provided to institutional clients.
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Founded Year | Domain | Location | |
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Reinsurance brokerage and risk advisory services are provided globally.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Cover Whale
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Cover Whale
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Cover Whale Comparisons
Competitors of Cover Whale
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Cover Whale
Frequently Asked Questions about Cover Whale
When was Cover Whale founded?
Cover Whale was founded in 2019 and raised its 1st funding round 2 years after it was founded.
Where is Cover Whale located?
Cover Whale is headquartered in Rancho Santa Margarita, United States. It is registered at Rancho Santa Margarita, California, United States.
Who is the current CEO of Cover Whale?
Daniel Abrahamsen is the current CEO of Cover Whale. They have also founded this company.
Is Cover Whale a funded company?
Cover Whale is a funded company, having raised a total of $83M across 4 funding rounds to date.
What does Cover Whale do?
Cover Whale was established in 2019 in Rancho Santa Margarita, United States, within the insurance sector. Coverage for commercial trucks is offered to wholesale and retail clients, focusing on risk management in transportation. Operations center on delivering tailored insurance solutions to address industry-specific needs. The company is led by Founder and CEO Daniel Abrahamsen, alongside Chief Operating Officer Darryl Siry, with services accessible via coverwhale.com.
What products or services does Cover Whale offer?
Cover Whale offers Commercial Auto Insurance, Driver Safety Program, and Quoting Platform.
Who are Cover Whale's investors?
Cover Whale has 3 investors. Key investors include Morgan Stanley, Ambac Financial Group, and TigerRisk Partners.