CoverWallet Raises $18.5 Million to Expand Small Business Insurance Platform


In Good Company
CoverWallet is proud to announce that we 
raised an $18.5 million Series B financing round led by Foundation Capital, joining existing investors Union Square Ventures, Index Ventures, Two Sigma Ventures, CV Starr, Founder Collective and Highland Capital Partners. They’re some of the best and most prestigious venture capital firms in the world, and we’re pleased to call them partners.

So, what now? CoverWallet is going to use this funding to grow our team, expand our services and better our customer experience. 

Since we started, CoverWallet has been revolutionizing the business owner’s experience of understanding and buying commercial insurance. We’re excited to plow this new investment into further enhancements in that experience. If you’re the type of person who likes press releases, you can check it out here.

     –  “Soon enough, folks won’t even remember how offline and time-consuming dealing with business insurance used to be.”  – Rashmi Melgiri, Co-Founder of CoverWallet

     –  “We are very excited about the next few years. One thing I didn’t expect, is the personal satisfaction obtained from the social impact of insurance. In the last year, a few businesses that CoverWallet had insured were severely affected by natural disasters and had to shut down for multiple days. The insurance that we provided covered their loss of income. Without it, many small business owners and their families would have been out of business and lost everything that they had built over the years. When you can build a big business, reinvent a large industry with technology and help people, that’s beyond fulfilling”  – Inaki Berenguer, Co-Founder of CoverWallet

We are delighted to be a part of a growing group of companies to have received investments, from the same investors, such as Netflix, Dropbox, and Facebook. These name brands have made a lasting impact in each of their respective industries, positively changing the lives of millions of consumers, and we hope to do the same. In adding our name to that list, we know we have a lot to strive for, so if you’re an existing customer or are considering purchasing your insurance through us, just know, you’re in good company!

Ready to see what all the fuss is about? Click here to start an application and get free insurance quotes for your small business!

 

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