Participated · Series C · Sep 2015

CoverHound operates a digital P&C insurance distribution platform for consumers and businesses, enabling customers to compare and buy policies from multiple U.S. carriers. Led by CEO Keith Moore, the company also operates CyberPolicy, a subsidiary focused on cyber insurance for SMBs. CoverHound has sold more than 200,000 policies since launch and has raised over $112M in total capital. The company partners with major carriers including Chubb, Hiscox, Progressive, Liberty Mutual, biBERK, Safeco, Nationwide, Mercury and Hartford Steam Boiler. Recent commercial activity includes CyberPolicy providing cyber options through Progressive and a May 2018 partnership with Hiscox to offer cyber insurance. CoverHound plans to continue developing CyberPolicy, expand offices beyond San Francisco and Westlake Village to Charlotte, NC, and grow internationally into Japan and other markets while strengthening partnerships with banks, large insurers and technology providers. CoverHound operates a vertical marketplace that lets consumers search for, compare and buy auto and property insurance through its own site and via Google’s insurance search. Unlike some aggregators, CoverHound offers fulfilment — aftercare and claims processing — which the company says generates an additional revenue stream equal to roughly 7–15% of the premium. The company has sold 50,000 policies in the last two years and grew 170% in the prior 12 months. Its core portal and auto insurance sales remain the biggest business drivers while the firm expands its comparison engine into other distribution partners. CoverHound is extending into business insurance for startups via partnerships with accelerators and incubators, with AngelPad named as the first partner. The company currently works with about 30 carriers in auto, home and umbrella insurance and plans to add several more. CoverHound operates an online platform that lets consumers get personalized quotes and quickly buy auto, homeowners, renters and motorcycle insurance from 21 carriers (17 focused on auto). Led by CEO Keith Moore, the company employs licensed insurance agents who assist customers and supports an insurance agency operations center in Southern California. Since launching in June 2012, CoverHound has sold more than 26,000 policies. The company plans to hire additional engineers in its San Francisco office and expand staff for its agency operations. CoverHound intends to use its new funding to grow carrier relationships and integrate with large marketing partnerships, including Google Compare, which is launching in select states in the months ahead. To date the company has raised over $20M in funding. CoverHound is a San Francisco–based startup that provides an online comparison-shopping platform and acts as an independent insurance agency for consumers. The platform surfaces instant, personalized rates from carriers like Travelers, GMAC, Safeco and Progressive and enables users to buy and manage policies directly. It offers ongoing service through an in-house team of insurance professionals who monitor and adapt policies, and it also provides a B2B2C “Storefront” product banks can embed via a snippet of code. The company has expanded into over 30 U.S. states and reports policies sold through the platform growing by over 60% month-over-month. CoverHound has begun adding homeowners and motorcycle insurance and plans to build support for other personal insurance products while pursuing brand partnerships and nationwide expansion. The startup declined to share detailed monetization figures beyond the customary percentage-of-premium agent payments. CoverHound is a car insurance comparison service based in San Francisco, CA. Led by CEO Basil Enan and launched one year earlier by a team of insurance industry veterans, the company operates in private beta. Its platform lets consumers calculate their personal insurance needs and receive objective, accurate and actionable comparison rates from top providers. CoverHound provides research and comparison-shopping tools to help users evaluate insurance options. The company intends to use the seed funding to accelerate growth of its engineering, marketing and sales teams and to continue building consumer awareness for the service.