About Covered
Covered is a company based in Denver (United States) founded in 2016.. Covered has raised $7.77 million across 6 funding rounds from investors including Radian, Ozmen Ventures and Black Hills Regional Angel Fund. The company has 100 employees as of December 31, 2022. Covered offers products and services including Insurance Quotes Platform and Concierge Services. Covered operates in a competitive market with competitors including Next Insurance, Marble, Gabi, Insureon and Cover, among others.
- Headquarter Denver, United States
- Employees 100 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 Covered Insurance Solutions Ll
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$7.77 M (USD)
in 6 rounds
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Latest Funding Round
$2.49 M (USD), Series A
Aug 12, 2020
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Investors
Radian
& 2 more
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Employee Count
100
as on Dec 31, 2022
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Products & Services of Covered
Covered offers a comprehensive portfolio of products and services, including Insurance Quotes Platform and Concierge Services. 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.
Online platform for obtaining competitive insurance quotes.
Assistance for claims processing and policy guidance.
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Funding Insights of Covered
Covered has successfully raised a total of $7.77M across 6 strategic funding rounds. The most recent funding activity was a Series A round of $2.49 million completed in August 2020. 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 6
- Last Round Series A — $2.5M
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First Round
First Round
(13 Mar 2017)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2020 | Amount | Series A - Covered | Valuation | Radian |
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| Jun, 2020 | Amount | Series A - Covered | Valuation |
investors |
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| Mar, 2019 | Amount | Series A - Covered | Valuation |
investors |
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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 Covered
Covered has secured backing from 3 investors, including institutional and venture fund investors. Prominent investors backing the company include Radian, Ozmen Ventures and Black Hills Regional Angel Fund. 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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A venture capital fund is operated for early-stage startups.
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Founded Year | Domain | Location | |
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Mortgage insurance is provided by Radian to support home lending.
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Founded Year | Domain | Location | |
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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 Covered
| 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 - Covered
| 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 |
Covered Comparisons
Competitors of Covered
Covered 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 Cover, 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 quotes for P&C coverage are compared via mobile app.
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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 Covered
Frequently Asked Questions about Covered
When was Covered founded?
Covered was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is Covered located?
Covered is headquartered in Denver, United States. It is registered at Denver, Colorado, United States.
Is Covered a funded company?
Covered is a funded company, having raised a total of $7.77M across 6 funding rounds to date. The company's 1st funding round was a Series A of $3.04M, raised on Mar 13, 2017.
How many employees does Covered have?
As of Dec 31, 2022, the latest employee count at Covered is 100.
What does Covered do?
Covered was founded in 2016 and is based in Denver, United States. An online platform is operated by the company within the insurance technology sector, enabling users to search for, evaluate, and acquire home insurance options. The service remains pre-launch as of April 2017, with focus placed on facilitating comparisons across providers. Geographic operations are centered in the U.S. market.
Who are the top competitors of Covered?
Covered's top competitors include Next Insurance, Marble and Gabi.
What products or services does Covered offer?
Covered offers Insurance Quotes Platform and Concierge Services.
Who are Covered's investors?
Covered has 3 investors. Key investors include Radian, Ozmen Ventures, and Black Hills Regional Angel Fund.
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