• Skip to main content
  • Skip to secondary menu
  • Skip to footer

Technologies.org

Technology Trends: Follow the Money

  • Technology Events 2025-2026
  • Sponsored Post
    • Make a Contribution
  • Technology Jobs
  • Technology Markets
  • About
    • GDPR
  • Contact

Cover, the mobile-first insurance platform, closed a $16 million Series B round

October 2, 2018 By admin Leave a Comment

Cover, the mobile-first insurance platform, announced today that it closed a $16 million Series B round led by Tribe Capital with participation from Y Combinator, Social Capital, Exor and Samsung Ventures. The new round of funding will be used to scale the team and rapidly expand its insurance product offerings.

Launched in 2016 via the Y Combinator startup accelerator, Cover’s goal is to streamline the insurance buying process through user-friendly tech and expert advice. This round brings Cover’s total funding to $27 million.

“Cover is in a class of their own among insurtechs,” said Arjun Sethi, Lead Investor and Partner at Tribe Capital. “They have clear product-market fit and the team has repeatedly proven that they can deliver the step function increase in the insurance experience consumers need and deserve.”

With Cover 2.0, customers can expect a variety of new improvements to the core mobile app, a new e-commerce tool on Shopify called Cover Warranties, and the release of Cover Driving School which will create more opportunities for discounted auto insurance rates. Cover plans to expand across the United States, eventually scaling to Canada.

“We’ve tripled headcount over the last seven months and in that time, the folks on this team have built the backbone of a multi-line insurance business that will compete for hundreds of billions of dollars in premiums,” said Cover CEO & Co-Founder, Karn Saroya. “Building a strong foundation was incredibly important to us and we’re already seeing the payoff in our ability to deliver an exceptional customer experience.”

Cover is continually working towards establishing itself as a market leader while striving towards a fair and customer-centric model. The company’s annualized premium for 2018 has already surpassed $8.5 million and has been growing at around 30 percent month over month.

“Our mission from day one has been to rebuild insurance, from the product experience to pricing, for the benefit of our customers,” said Saroya. “This funding round will allow us to continue pursuing that mission.”

About Cover
Cover is a technology company and nationally licensed insurance brokerage that works with more than 30 insurance companies across all 50 states. It was founded in 2016 as part of the Y Combinator W16 batch. Cover’s apps ensure that customers get the most out of their insurance by providing expert customer service and the lowest rates possible.

About Tribe Capital
Tribe Capital is a global venture capital investment firm focused on Internet and software investments leveraging data and technology to partner with great founders solving hard problems.

SOURCE Cover

Filed Under: Tech

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Footer

Recent Posts

  • Adobe Introduces LLM Optimizer to Help Brands Navigate the Generative AI Shift
  • Why Visa and Mastercard Stocks Slipped After the Stablecoin News
  • iOS 26: The Most Personal, Intelligent, and Private iPhone Experience Yet
  • Postman Unveils Agentic AI Tooling to Operationalize API-Driven Intelligence
  • AM Batteries Opens New Facility in Billerica to Advance U.S. Battery Supply Chain
  • Meibel Secures $7 Million to Revolutionize AI Runtime Management
  • Tailor Raises $14 Million to Redefine ERP for Modern Businesses with Composable Architecture
  • Intel Unveils New GPUs and AI Accelerators at Computex 2025
  • Unlocking Critical Minerals: USGS Invites States to Turn Mine Waste into Treasure
  • Blacksmith Reimagines Continuous Integration with AI-Optimized Infrastructure

Media Partners

  • Market Analysis
  • Cybersecurity Market
China’s Strategic Shift to RISC-V: Market Implications and Growth Prospects
Understanding Transfer Pricing: A Key Component of Multinational Business Operations
A Comprehensive Tour of Project Management Tools and Integration Platforms
Implementing Odoo ERP in a Small Manufacturing Enterprise: Costs and Considerations
Economic Optimism Meets Uncertainty: Blue Chip Indicators Highlight Post-Election Fiscal Concerns and AI’s Looming Impact
The Future of Connectivity: Insights from Ericsson’s November 2024 Mobility Report
Platinum Market Faces Sustained Deficit Amidst Strong Demand and Constrained Supply
Breaking Beijing’s Grip: U.S. and Australia Unite Against China’s Rare Earth Monopoly
Global AI-Powered Accounting and Audit Services Market Analysis 2023-2030: Growth, Trends, and Forecast
The Re-Emergence of PHP
Passwork Achieves ISO/IEC 27001:2022 Certification, Reinforcing Commitment to Enterprise Security
Halo Security Honored with 2025 MSP Today Product of the Year Award
Cloudflare Log Explorer: A Unified Security and Performance Lens Within the Dashboard
The Rising Tide: AI and Cybersecurity Challenges Loom Large for CISOs
Arsen Launches AI-Powered Vishing Simulation to Help Organizations Combat Voice Phishing at Scale
Cyera Raises $540M to Cement Its Role as AI’s Data Security Backbone
ZeroRISC Secures $10M to Build Transparent, Secure Supply Chains
Cisco Fuses AI Security Into the Network Fabric: A Unified Vision for the Agentic Era
Guardz Raises $56M Series B to Scale AI-Native Cybersecurity Platform for MSPs and SMBs
Horizon3.ai’s $100M Bet on Autonomous Security

Media Partners

  • Market Research Media
  • Technology Conferences
The Rise of Headless Content Frameworks in Distributed Media Projects
Developing Web Projects: From Concept to Launch
The Rise of APS-C Cameras: A Professional Renaissance in Photography
Market Brief: Disruption in Spanish Orange Supply Chain and Strategic Response by UK Retailers
Global AI-Powered Movie Scenario Market Analysis 2023-2030: Growth, Trends, and Forecast
Market Research Report: US Government Cybersecurity Market in 2024
Market Research Report: Global Advertising Revenue Projections and Trends in the Entertainment & Media Industry
Social Media: The Rise of Formulaic Content
Netflix’s Creative Decline: The Rise of Formulaic Content
The Transformation of Media: Navigating the Waning Allure of Social Platforms
Apple Announces WWDC25, June 9 to 13, 2025
Adobe Summit 2025, March 17-20, Las Vegas
Embedded World 2025, from 11 to 13 March 2025 in Nuremberg
SATELLITE 2025: Uniting the Global Satellite and Space Communities
The milestone 10th edition of Chatbot Summit on March 31 – April 1, 2025, The Ritz-Carlton, Berlin
Snowflake Summit 2025, scheduled for June 2-5, 2025, in San Francisco
The NVIDIA GPU Technology Conference (GTC) 2025 is set to take place from March 17 to 21 at the San Jose McEnery Convention Center in San Jose, California
The Taipei Nangang Exhibition Center is set to host COMPUTEX 2025 from May 20 to May 23
The Mobile World Congress (MWC 2025) will kick off from March 3 to 6 in Barcelona, Spain
IOT Solutions World Congress 2025: Forging the Future of Industrial Innovation

Copyright © 2022 Technologies.org

Media Partners: Market Analysis & Market Research and Exclusive Domains