Clyde launched in 2018 its core extended warranty product to help merchants sell protection plans, drive revenue and improve customer experience. The platform now also includes a unified claims management tool that handles customer and product issues regardless of protection-plan ownership. Clyde says merchants using its extended-warranty solution see an 18% average attachment rate and that its results are 4x the industry average. The company has partnered with more than 300 brands and retailers across categories including electronics, furniture, appliances, fitness equipment, and watches. With the new funding it plans to expand its GDPR- and CCPA-compliant platform so merchants can identify and build direct relationships with customers even when purchases occur through third parties. Clyde also intends to expand into new markets and categories, hire talent, and scale internationally to drive higher attachment rates and more revenue. Clyde provides a platform that connects small retailers to insurance companies so merchants can launch and manage product-protection and extended-warranty programs. The product includes a merchant dashboard and e-commerce apps that show contracts sold, total revenue, gross profit, and which products most often sell protection. Clyde offers integrations with Shopify, BigCommerce, Salesforce, Magento, WooCommerce and more to enable live deployment on web and physical point-of-sale. The founding team is product-focused and emphasizes partnerships with top insurance companies as a competitive advantage. Its core operating metric is an average 18% attachment rate—18% of buyers on a Clyde-powered path purchase protection. The company positions itself to help non-Amazon/Walmart retailers capture revenue and data from warranties and has seen increased inbound interest since the COVID-19 pandemic. Clyde provides an API that lets merchants add product warranty and protection options to point-of-sale and ecommerce platforms via a plugin. Businesses can integrate insurance companies and manage administrators and protection programs through an admin portal. Co-founded by CEO Brandon Gell, Head of Engineering Josh Scaglione and engineer Nick Scaglione, Clyde is a Techstars Chicago graduate. The company currently offers protection in 48 states and manages licensing in California and Florida during onboarding. Clyde raised $3m in funding to continue expanding operations and further develop its solutions. The company is based in New York City.

Total raised

$58M

Funding rounds

4

Latest round

Debt Financing

Latest activity

Oct 2021