Clearcover makes additional cuts
Five months after reducing its workforce by 15%, car insurance startup Clearcover has made the decision to reduce its workforce by 28%.
In an email sent to employees following the layoffs, Clearcover CEO Kyle Nakatsuji writes that the company has been focused on ensuring the sustainability of its business in the face of a difficult and historically volatile market.
Founded in 2016, Clearcover disclosed ~$478 million across six rounds. Its carrier subsidiary reported $82 million in written premiums for the first six months of 2023.