Mobile-first insurance platform Cover closed a $16 million Series B round led by Tribe Capital, with participation from Y Combinator, Social Capital, Exor, and Samsung Ventures.
Launched in 2016 via the Y Combinator startup accelerator, Cover’s goal is to streamline the insurance buying process through user-friendly tech and expert advice. With Cover 2.0, customers can expect a variety of new improvements to the core mobile app, a new ecommerce tool on Shopify called Cover Warranties, and the release of Cover Driving School, which will create more opportunities for discounted auto insurance rates.
The new round of funding will be used to rapidly expand Cover’s insurance product offerings across the United States, eventually scaling to Canada. This round brings its total funding to $27 million.