Clyde raises $25 million

After Mulberry Technology announced a $22 million Series B round, its competitor Clyde is sharing that it secured a $25 million Series B round along with $16 million in working capital. The round was led by Headline, with participation from Vulcan, Spark Capital, Crosslink and others.

Founded in 2017, Clyde enables retailers to offer extended warranties and accident protection to their customers. It currently partners with over 300 brands in a range of categories including consumer and household electronics, scooters and e-bikes, furniture and mattresses, appliances and hardware, fitness and sporting equipment, and jewelry and watches.

The startup shares that its extended warranty solution has an average conversion rate of 18% – “over four-times the industry average.”