CoverWallet offers a B2B platform that provides small businesses with real-time quoting, underwriting, binding, billing, and servicing to buy and manage commercial insurance online. The company launched in 2016 and is based in New York. CoverWallet extended its U.S. platform to Europe through a commercial partnership with Zurich and currently has the platform live in Spain, with plans to expand to other European countries with Zurich. The platform is used by carriers — Hanover Group was the first U.S. carrier to use it for agents — and Zurich leverages the platform to sell policies directly to small businesses online. CoverWallet reported substantial momentum, having surpassed 800% annual revenue growth in the prior year. As of October 2017 the company had raised an $18.5 million Series B and more than $30 million in total funding from investors including Union Square Ventures, Index Ventures, Two Sigma, Foundation Capital, and Starr Companies. CoverWallet is an online small-business insurance platform that uses analytics, thoughtful design, and technology to provide tailored advice and personalized coverage. Launched in early 2016, the company leverages data to help thousands of small businesses get and manage insurance quickly and affordably. CoverWallet positions itself to simplify and democratize access to business insurance, delivering customized coverage, savings, and a seamless user experience in minutes. The company is actively disrupting the roughly $100 billion small-business insurance market and has garnered industry recognition, including Benzinga's 2017 Best Insurtech Solution and a nod from Entrepreneur Magazine. Financially, CoverWallet has secured over $30 million in venture capital to date, including the newly announced round. The company plans to use the new funding to build core technology, expand partnerships, and scale operations to meet growing demand. CoverWallet is a Spanish insurtech that markets commercial insurance online to small and medium-sized enterprises. It offers liability coverage for businesses such as restaurants, flower shops, auto shops, electricians and architects. The startup seeks to simplify the often-difficult process of obtaining commercial insurance and make coverage more accessible for SMEs. CoverWallet is focused on the United States, where it says there are 25 million SMEs in need of insurance. Financially, the company raised a €7.3 million round in its latest financing and had previously raised €1.6 million. CoverWallet is a NYC-based digital insurance manager that helps businesses consolidate commercial insurance policies into a single platform. Its product offers automatic risk analysis, document management, benchmarking, data analytics, intelligent data-driven risk and insurance assessments, coverage recommendations, peer risk comparisons and claims support. The service currently manages commercial insurance lines including general liability, commercial property, workers’ compensation, professional liability, errors and omissions and cyber liability. Customers can access expert support via email, phone, video or online chat. The company raised $2 million in seed funding and intends to use the proceeds to launch its platform. Co-founded by CEO Inaki Berenguer and COO Rashmi Melgiri, CoverWallet positions itself as a digital-first solution for business insurance management.

Total raised

$28M

Funding rounds

4

Latest round

Series B

Latest activity

Oct 2017