Cover Genius has secured US$10 million in a Series B funding round to boost the Australian insurtech company’s investment in talent and continued global growth across the US, the UK, and into Asia.
The round, which follows small Seed and Series A funding rounds, was led by Sydney and California-based King River Capital and participated in by the New York-based Belfer Family, London-based Jasper Tans, the Australian-based pre-IPO fund, Regal Funds Management, and Marinya Capital.
“Early on, we bootstrapped the company and since then have built a highly profitable global insurtech business in just over five years,” said Angus McDonald, Cover Genius CEO and co-founder. “This latest round of funding will help us build out our bi-coastal US presence, European, and Asian operations, and expand in half a dozen new countries in line with the needs of our global partners and customers.”
Established in 2014, Cover Genius uses its insurance distribution technology to provide regulated insurance policies in more than 60 countries and 50 US states.