Extend becomes a licensed service contract provider

Extend has become a licensed service contract provider (also known as an “obligor”), allowing it to design and underwrite its own plans. The move allows it to own every step of the product protection or extended warranty process in all 50 states and enables it to offer customized plans to its merchants and their customers.

The launch of Extend’s obligor operations follows the company’s 2019 acquisition of ​​Aon’s US warranty business.

Since its launch in 2019, Extend has become the go-to provider for Sur La Table, Z Gallerie and Brilliant Earth, among more than 600 other merchants that have selected Extend’s warranty products.

Extend earned its unicorn status in 2021 after a $260 million Series C fundraising headed by SoftBank Vision Fund 2, with participation from Amex Ventures, Meritech Capital Partners, PayPal Ventures, GreatPoint Ventures, Nationwide, Tomales Bay Capital, Launchpad Capital, 10X Capital, and 40 North.