Cover Genius raises $100 million

Embedded insurance company Cover Genius announced a $100 million capital raise, backed by Vista Credit Partners. The raise values the business at $1.9 billion.

Cover Genius operates a B2B2C embedded protection platform that connects 200+ partners with 50+ global insurance carriers to protect “over 70 million” end customers at the point of sale across travel, retail, ticketing and logistics. The company claims it crossed $3+ billion in cumulative gross written sales.

Excluding this investment round, Cover Genius publicly disclosed $245 million in funding.

Cover Genius will use the capital to deepen enterprise partner relationships, scaling AI capabilities, and investing in platform scalability and selective strategic acquisitions to drive entry into new verticals.

“We’ve spent more than a decade building the trust layer the world’s largest digital companies rely on to protect their customers. Today’s raise is about broadening possibilities: moving faster, going deeper into our partnerships, and building the AI capabilities that help people move through every step of their digital journey with certainty.” – Gus McDonald, Co-Founder & Chief Executive Officer, Cover Genius.