Cover Genius raises $80 million

Cover Genius has raised $80 million in Series E funding led by Spark Capital, with support from existing investors, including Dawn Capital, King River Capital and G Squared. To date, the startup has raised ~$245 million.

Founded in 2014, Cover Genius operates in several countries and it focuses on the embedded space. The startup claims that it provides embedded protection to over 30 million customers worldwide through partnerships with some of the world’s largest digital businesses.

“The display of trust from our investors highlights the resilience of our embedded business model and potential for growth, particularly as we strategically focus on key markets like travel, retail, ticketing, and logistics. Our collaborations with well-known brands, including Uber, Ryanair, and eBay, demonstrate our unique ability to create customer-centric protection solutions backed by technology, policy innovation, and industry expertise.” – Angus McDonald, CEO and co-founder of Cover Genius.

“Cover Genius’ technology platform, global presence and focus on digital claims initially caught our attention years ago. By tackling common insurance obstacles such as limited market coverage, lengthy claims processes, and a lack of product diversity, the company has evolved into a category leader. We couldn’t be more excited to partner with the company as they continue driving more value to partners and a best-in-class consumer experience.” – James Kuklinski, General Partner at Spark Capital.