About GAINSCO
GAINSCO is a company based in Dallas (United States) founded in 1978 was acquired by State Farm in September 2020.. GAINSCO has raised $23.59 million across 1 funding round from investors including State Farm. GAINSCO offers products and services including Auto Insurance and Mobile App. GAINSCO operates in a competitive market with competitors including Hagerty, HDVI, Cover Whale, Falcon Insurance Group and Aanika, among others.
- Headquarter Dallas, United States
- Stage Public
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Mga Insurance Company, 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
$23.59 M (USD)
in 1 rounds
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Latest Funding Round
$23.59 M (USD), Series A
Feb 02, 2005
- Investors
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Employee Count
Employee Count
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Acquired by
State Farm
(Sep 17, 2020)
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Products & Services of GAINSCO
GAINSCO offers a comprehensive portfolio of products and services, including Auto Insurance and Mobile App. 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 personal vehicles and liability protection.
Enables users to get quotes and make payments securely.
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Sales and Marketing
19 people
Software Development Team
17 people
Leadership Team
17 people
Legal and Compliance
7 people
Product Management Team
5 people
Operations Team
3 people
Finance and Accounting
3 people
Systems Team
2 people
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Funding Insights of GAINSCO
GAINSCO has successfully raised a total of $23.59M through 1 strategic funding round. The most recent funding activity was a Series A round of $23.59 million completed in February 2005. 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 1
- Last Round Series A — $23.6M
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First Round
First Round
(02 Feb 2005)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2005 | Amount | Series A - GAINSCO | 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 GAINSCO
GAINSCO has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include State Farm. 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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Insurance and financial services are provided to individuals and businesses.
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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 GAINSCO
| 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 - GAINSCO
| 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 |
Gainsco Comparisons
Competitors of GAINSCO
GAINSCO 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 Hagerty, HDVI, Cover Whale, Falcon Insurance Group and Aanika, 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 |
Automotive insurance solutions are provided to vehicle users.
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| domain | founded_year | HQ Location |
Telematics-based data & monitoring solutions for auto insurers and fleet owners
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| domain | founded_year | HQ Location |
Commercial truck insurance is provided for wholesale and retail sectors.
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| domain | founded_year | HQ Location |
Auto insurance coverage is offered nationwide by Falcon Insurance Group.
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| domain | founded_year | HQ Location |
Traceability solutions for agricultural products are provided using microbial-based tags.
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| domain | founded_year | HQ Location |
Serves as a transportation insurance carrier for reliable coverage solutions.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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 Gainsco
Frequently Asked Questions about GAINSCO
When was GAINSCO founded?
GAINSCO was founded in 1978 and raised its 1st funding round 27 years after it was founded.
Where is GAINSCO located?
GAINSCO is headquartered in Dallas, United States. It is registered at Dallas, Texas, United States.
Who is the current CEO of GAINSCO?
Glenn W. Anderson is the current CEO of GAINSCO.
Is GAINSCO a funded company?
GAINSCO is a funded company, having raised a total of $23.59M across 1 funding round to date. The company's 1st funding round was a Series A of $23.59M, raised on Feb 02, 2005.
What does GAINSCO do?
GAINSCO was established in 1978 and is based in Dallas, United States. The company functions as an auto insurance carrier within the property and casualty sector. Coverage is provided for personal and commercial vehicles, including liability, collision, and comprehensive options. Operations are managed nationwide, with policies underwritten and claims handled through a network of agents and digital platforms. Leadership is directed by Glenn W. Anderson as CEO and President.
Who are the top competitors of GAINSCO?
GAINSCO's top competitors include Hagerty, HDVI and Cover Whale.
What products or services does GAINSCO offer?
GAINSCO offers Auto Insurance and Mobile App.
Who are GAINSCO's investors?
GAINSCO has 1 investor. Key investors include State Farm.
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