Goodcover raises $7.5 million Series A

San Francisco-based renters insurance MGA Goodcover has raised $7.5 million in Series A financing led by Goodwater Capital, with participation from Fuel Capital, Broadhaven Ventures, Global Founders Capital, Liquid 2, and TransRe.

Launched earlier this year, the company’s product is currently available in California with plans to expand its insurance offerings and enter into new markets. This funding will also be used to grow the distributed remote team.

“This investment will help us accelerate our mission to provide affordable and effective insurance to all. Our cooperative member experience has been well received and we’re excited to serve more people, said Chris Lotz, CEO of Goodcover.”

“Insurtechs are bringing new ideas, new talent and new ways of working to our industry. We owe it to our customers to understand the new tools, and how they fit into the risk protection ecosystem” said James Whitelaw, TransRe Chief Marketing Officer and head of insurtech initiatives. “Goodcover is an early example of our willingness to commit capital, both capacity and equity, to have skin in the game and to align our mutual interests.”