About Coverwallet
Coverwallet is a company based in New York (United States) founded in 2015 was acquired by Aon in November 2019.. Coverwallet has raised $28.3 million across 5 funding rounds from investors including Zurich, Aon and Starr Companies. The company has 190 employees as of December 31, 2022. Coverwallet offers products and services including General Liability Insurance, Workers Compensation Insurance, Business Owners Policy, and Commercial Auto Insurance. Coverwallet operates in a competitive market with competitors including Lemonade, Waffle Labs, Coverdash, The Doctors Company and Ahoy Insurance, among others.
- Headquarter New York, United States
- Employees 190 as on 31 Dec, 2022
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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 Coverwallet, Inc.
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Products & Services of Coverwallet
Coverwallet offers a comprehensive portfolio of products and services, including General Liability Insurance, Workers Compensation Insurance, Business Owners Policy, and Commercial Auto Insurance. 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 coverage for business-related liabilities and risks.
Offers protection for workplace injuries and employee claims.
Combines multiple coverages for small business property and operations.
Covers vehicles used in business activities and related incidents.
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Funding Insights of Coverwallet
Coverwallet has successfully raised a total of $28.3M across 5 strategic funding rounds. 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 5
- Last Round Last Round
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First Round
First Round
(08 Mar 2016)
- Investors Count 28
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2018 | Amount | Series B - Coverwallet | Valuation | Zurich |
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| Oct, 2017 | Amount | Series B - Coverwallet | Valuation | Foundation Capital | |
| Jul, 2017 | Amount | Angel Round - Coverwallet | Valuation | Maurice Raymond Greenberg |
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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 Coverwallet
Coverwallet has secured backing from 29 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Zurich, Aon and Starr Companies. 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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Venture capital firm focused on early-stage fintech, enterprise, web 3, consumer, and multiple sectors
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Founded Year | Domain | Location | |
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Venture capital firm focused on blockchain, wellbeing, and multiple sectors
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Founded Year | Domain | Location | |
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Venture capital investments in technology startups and entrepreneurs.
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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 Coverwallet
| 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 - Coverwallet
| 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 |
Coverwallet Comparisons
Competitors of Coverwallet
Coverwallet 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 Lemonade, Waffle Labs, Coverdash, The Doctors Company and Ahoy Insurance, 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 |
Provider of a cloud-based platform for life and P&C insurance
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| domain | founded_year | HQ Location |
Provider of renter, pet, personal cyber & life insurance services
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| domain | founded_year | HQ Location |
Provider of online business insurance solutions
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| domain | founded_year | HQ Location |
Offers malpractice insurance and risk management services for physicians and clinicians.
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| domain | founded_year | HQ Location |
AI-based insurance solutions for boaters are provided.
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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 Coverwallet
Frequently Asked Questions about Coverwallet
When was Coverwallet founded?
Coverwallet was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Where is Coverwallet located?
Coverwallet is headquartered in New York, United States. It is registered at New York, New York, United States.
Is Coverwallet a funded company?
Coverwallet is a funded company, having raised a total of $28.3M across 5 funding rounds to date.
How many employees does Coverwallet have?
As of Dec 31, 2022, the latest employee count at Coverwallet is 190.
What does Coverwallet do?
Coverwallet provides online insurance quotes for businesses. It offers coverage for liability insurance, cyber insurance, commercial property insurance, umbrella insurance, error omission insurance, and more. It offers insurance for the automobile, manufacturing, real estate, healthcare, education industry, and more. It also offers claims support and policy management platform for businesses.
Who are the top competitors of Coverwallet?
What products or services does Coverwallet offer?
Coverwallet offers General Liability Insurance, Workers Compensation Insurance, Business Owners Policy, and Commercial Auto Insurance.
Who are Coverwallet's investors?
Coverwallet has 29 investors. Key investors include Zurich, Aon, Starr Companies, Kibo Ventures, and Foundation Capital.
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