Extend has built a software platform and set of APIs that let brands and merchants embed extended warranty and protection plans at the point of sale, supported by a digital assistant called Kaley that streamlines claims for shoppers. The company positions itself as the “AppleCare for everything else,” combining machine-learning-based risk analysis with flexible coverage tiers and centralized policy management. Demand has scaled rapidly: after selling 300,000 protection plans in 2020 (its first full year of business), Extend is on pace to surpass 3 million plans in 2021, and management says revenue grew 40× in 2020 with a further 400 % jump expected this year. Its merchant roster includes Peloton, iRobot, Harman/JBL, Backcountry, Balsam Hill, BlendJet, RealTruck and Traeger Grills, alongside a growing list of traditional retailers. Having started selling in 2019, the company has reached a valuation above $1.6 billion just 27 months into operations. Fresh capital will fund expansion beyond post-manufacturer warranties into broader protection products and support aggressive geographic growth. Extend also aims to cement itself as part of the core e-commerce stack alongside services like buy-now-pay-later and same-day delivery.

Total raised

$316M

Funding rounds

3

Latest round

Series C

Latest activity

May 2021