About Cover
Cover is a company based in San Francisco (United States) founded in 2016.. Cover has raised $27.12 million across 4 funding rounds from investors including Tencent, Tribe Capital and Social Capital. The company has 2 employees as of December 31, 2022. Cover operates in a competitive market with competitors including Next Insurance, Marble, Gabi, Insureon and Covered, among others.
- Headquarter San Francisco, United States
- Employees 2 as on 31 Dec, 2022
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Cover Financial, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$27.12 M (USD)
in 4 rounds
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Latest Funding Round
$16 M (USD), Series B
Oct 02, 2018
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Investors
Tencent
& 12 more
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Employee Count
2
as on Dec 31, 2022
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Funding Insights of Cover
Cover has successfully raised a total of $27.12M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $16 million completed in October 2018. 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 B — $16.0M
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First Round
First Round
(22 Mar 2016)
- Investors Count 13
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2018 | Amount | Series B - Cover | Valuation | Tribe Capital | |
| Jul, 2017 | Amount | Series A - Cover | Valuation | Social Capital |
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| Jun, 2016 | Amount | Seed - Cover | Valuation | Y Combinator |
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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
Cover has secured backing from 13 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Tencent, Tribe Capital and Social Capital. 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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Investments are made in global seed and early-stage startups.
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Founded Year | Domain | Location | |
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Early-stage startups are accelerated via funding and educational programs.
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Founded Year | Domain | Location | |
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US focused VC firm investing in seed & growth stage companies
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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
| 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
| 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 Comparisons
Competitors of Cover
Cover 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 Next Insurance, Marble, Gabi, Insureon and Covered, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Online small business insurance policies are provided.
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| domain | founded_year | HQ Location |
Insurance quotes are compared via a reward-based platform for individuals.
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| domain | founded_year | HQ Location |
Online comparison of property and casualty insurance quotes is facilitated.
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| domain | founded_year | HQ Location |
Online quotes for business property and casualty insurance are compared.
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| domain | founded_year | HQ Location |
Insurance comparison platform for home
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| 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
Frequently Asked Questions about Cover
When was Cover founded?
Cover was founded in 2016.
Where is Cover located?
Cover is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Is Cover a funded company?
Cover is a funded company, having raised a total of $27.12M across 4 funding rounds to date. The company's 1st funding round was a Seed of $120K, raised on Mar 22, 2016.
How many employees does Cover have?
As of Dec 31, 2022, the latest employee count at Cover is 2.
What does Cover do?
Cover was founded in 2016 in San Francisco, United States, within the insurtech sector. An app-based platform is operated to facilitate comparisons of property and casualty insurance quotes. Personal options such as auto, home, and renters insurance are included, alongside business coverages like workers compensation, general liability, and cyber insurance. The application is accessible on both Android and iOS devices.
Who are the top competitors of Cover?
Cover's top competitors include Next Insurance, Renegade Insurance and Marble.
Who are Cover's investors?
Cover has 13 investors. Key investors include Tencent, Tribe Capital, Social Capital, Exor, and Y Combinator.
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