Cover Genius raises $80 million of additional funds

Money

Insurtech Cover Genius has announced the closure of a successful $80 million Series E funding round, led by Spark Capital

The round also saw contributions from a number of existing Cover Genius investors, including Dawn Capital, King River Capital, and G Squared.

The money will be used to expedite Cover Genius’s growth plans in the embedded insurance sector.

The new funds will also allow it to invest in new technology, such as improved digital insurance distribution solutions, artificial intelligence (AI) claims handling, and expanded protection solutions.

“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,” said Angus McDonald, CEO and Co-Founder of Cover Genius.

Cover Genius also recently announced a partnership with Via.com, an online travel company with a strong presence in India and Southeast Asia.