What is CoverWallet?
CoverWallet Inc. is an innovative insurance company founded in 2015 and headquartered in New York City. The company specializes in providing comprehensive insurance coverage tailored for businesses, including those in the transportation and contracting sectors, as well as for individual consultants. By leveraging technology, CoverWallet aims to streamline the insurance procurement process, making it more accessible and efficient for its diverse clientele.
How much funding has CoverWallet raised?
CoverWallet has raised a total of $28.3M across 3 funding rounds:
Angel/Seed
$2M
Series A
$7.8M
Series B
$18.5M
Angel/Seed (2016): $2M with participation from Two Sigma Ventures, Founder Collective, and Highland Capital Partners
Series A (2016): $7.8M led by Index Ventures, Two Sigma Ventures, Founder Collective, Highland Capital Partners, and Union Square Ventures
Series B (2017): $18.5M supported by CV Starr, Union Square Ventures, Index Ventures, Two Sigma Ventures, and Foundation Capital
Key Investors in CoverWallet
Index Ventures
Index Ventures is a venture firm investing in the next generation of entrepreneurs from seed to IPO. They partner with founders with bold dreams that challenge the status quo to build enduring companies.
Two Sigma Ventures
Two Sigma Ventures is an early-stage venture capital firm that invests in transformative companies leveraging information growth and computing power. The firm focuses on technology that enhances human potential, breakthrough therapies, artificial intelligence, and online safety for children.
Founder Collective
Founder Collective is a venture capital fund focused on seed and pre-seed investments, partnering with exceptional entrepreneurs from the idea stage to IPO. The firm emphasizes founder alignment and supports innovative startups across various sectors.
What's next for CoverWallet?
With substantial backing, CoverWallet is poised for accelerated growth and market penetration. The company's focus on digital transformation within the insurance industry, coupled with its strategic capital raises, suggests an ongoing commitment to enhancing its platform and expanding its service offerings. Future developments are likely to center on further innovation in insurtech, potentially exploring new product lines or deepening its market reach through strategic partnerships and technological advancements.
See full CoverWallet company page
