About Covr
Covr is a company based in Boise (United States) founded in 2013 by Todd Ruplinger.. Covr has raised $30 million across 4 funding rounds from investors including Sony Innovation Fund, Stone Point Capital and Tribeca ESP. The company has 77 employees as of December 31, 2021. Covr has completed 1 acquisition, including Inforcepro. Covr offers products and services including Insurance Tools and Insurance Calculator. Covr operates in a competitive market with competitors including Optalitix, WatchTower, WeGroup, FairDee and Renaissance insurance, among others.
- Headquarter Boise, United States
- Employees 77 as on 31 Dec, 2021
- Founders Todd Ruplinger
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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
*********
- Legal Name Covr Financial Technologies, 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
$30 M (USD)
in 4 rounds
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Latest Funding Round
$15 M (USD), Series B
Apr 08, 2022
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Investors
Sony Innovation Fund
& 12 more
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Employee Count
77
as on Dec 31, 2021
- Investments & Acquisitions
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Products & Services of Covr
Covr offers a comprehensive portfolio of products and services, including Insurance Tools and Insurance Calculator. 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.
Digital tools for simplifying life insurance purchases
Application to estimate insurance needs based on user data
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Funding Insights of Covr
Covr has successfully raised a total of $30M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $15 million completed in April 2022. 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 — $15.0M
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First Round
First Round
(13 Jun 2017)
- Investors Count 13
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2022 | Amount | Series B - Covr | Valuation | Stone Point Capital | |
| Apr, 2021 | Amount | Series B - Covr | Valuation | Sony Innovation Fund |
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| Sep, 2018 | Amount | Series A - Covr | Valuation | Allianz Life Ventures |
| 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 Covr
Covr has secured backing from 13 investors, including venture fund and institutional investors. Prominent investors backing the company include Sony Innovation Fund, Stone Point Capital and Tribeca ESP. 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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Private equity firm investing in global financial services sectors.
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Founded Year | Domain | Location | |
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Fintech, insurtech, deep tech startups are funded by Tribeca ESP.
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Founded Year | Domain | Location | |
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Investment in retail and financial services technologies.
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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 Covr
Covr has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Inforcepro. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| 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 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Web-based software for managing and auditing insurance policies is offered.
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2011 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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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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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Covr
| 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 |
Covr Comparisons
Competitors of Covr
Covr 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 Optalitix, WatchTower, WeGroup, FairDee and Renaissance 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 |
AI consulting and data analytics services are offered to businesses.
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| domain | founded_year | HQ Location |
Quoting software for insurance industry
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| domain | founded_year | HQ Location |
Insurance quoting software with virtual assistant features is provided.
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| domain | founded_year | HQ Location |
Provider of insurance quoting software
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| domain | founded_year | HQ Location |
Diversified insurance services are offered by Renaissance Insurance in Russia.
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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 Covr
Frequently Asked Questions about Covr
When was Covr founded?
Covr was founded in 2013 and raised its 1st funding round 4 years after it was founded.
Where is Covr located?
Covr is headquartered in Boise, United States. It is registered at Boise, Idaho, United States.
Is Covr a funded company?
Covr is a funded company, having raised a total of $30M across 4 funding rounds to date. The company's 1st funding round was a Series A of $10M, raised on Jun 13, 2017.
How many employees does Covr have?
As of Dec 31, 2021, the latest employee count at Covr is 77.
What does Covr do?
AI cloud-based insurance quoting solutions for the insurance industry. It offers solutions including Covr Consumer for protecting consumers of leading financial brands, quoting, comparison, sales more; Covr Advisor, a multi-carrier digital life, long-term care, disability, and annuity sales service platform for financial advisors insurance specialists; Covr Exchange to provide a digital book of business management system for financial institutions, dashboard reporting for institutional insurance programs, and more.
Who are the top competitors of Covr?
Covr's top competitors include Optalitix, WatchTower and WeGroup.
What products or services does Covr offer?
Covr offers Insurance Tools and Insurance Calculator.
How many acquisitions has Covr made?
Covr has made 1 acquisition, including Inforcepro.
Who are Covr's investors?
Covr has 13 investors. Key investors include Sony Innovation Fund, Stone Point Capital, Tribeca ESP, Commerce Ventures, and Contour Venture Partners.