# Clearcover

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/clearcover

- Industry: Insurance
- Headquarters: Portsmouth, US
- Website: www.clearcover.com
- Total disclosed funding: $360M
- Latest round: Series E (Mar 27, 2024)
- Investors on record: 10

## About

Clearcover, Inc. is a technology-driven car insurance provider based in the US, focusing on efficient and cost-effective auto insurance solutions for individual drivers through a digital platform.Founded in 2016 by Derek Brigham and Kyle Nakatsuji, Clearcover, Inc. is headquartered in Portsmouth, US. The company has successfully raised a total of USD 55.00 mn through six funding rounds, with the most recent being a Series E round in March 2024, led by Eldridge Industries.Clearcover specializes in providing car insurance solutions that leverage technology to streamline the coverage process. Their primary offerings include essential auto insurance coverages such as Liability Insurance, Comprehensive and Collision coverage, and Uninsured/Underinsured Motorists coverage. Additional services include Medical Payments and Personal Injury Protection. Clearcover's services cater to a diverse clientele across multiple geographical markets in the United States, ensuring compliance with state-specific insurance regulations while addressing the unique requirements of each region.Clearcover's revenue model is structured around direct-to-consumer transactions, where customers purchase car insurance policies offering various coverage options. Clients can engage with the company through a fully digital platform, allowing them to obtain quotes, select coverages, and manage claims seamlessly. Customers pay premiums for the selected insurance plans, including basic liability coverage and additional options like Comprehensive and Collision coverage. The company emphasizes user convenience through its technology-driven services and offers clear pricing plans for a broad audience.In March 2024, Clearcover, Inc. raised USD 54.99 mn in Series E funding, led by Eldridge Industries, to support its growth initiatives. The company is planning to launch new insurance products aimed at enhancing customer engagement and satisfaction. Additionally, Clearcover aims to expand its services into new markets across the United States, targeting regions that require tailored insurance solutions by the end of 2025.

## Funding rounds

- Series E, Mar 27, 2024, $55M — Eldridge Industries
- Series D, Apr 13, 2021, $200M — Cox Enterprises Inc., OMERS Ventures, American Family Ventures, Eldridge Industries
- Series C, Jan 3, 2020, $50M — IA Capital Group, Cox Enterprises Inc., OMERS Ventures, American Family Ventures
- Series B, Jan 22, 2019, $43M — IA Capital Group, Cox Enterprises Inc., Lightbank, Hyde Park Venture Partners, American Family Ventures
- Series A, Sep 19, 2017, $12M — Greycroft, Silicon Valley Bank, 500 Global, Lightbank

## Investors

- Greycroft (https://capitalatlas.ai/funds/greycroft) — Series A
- Silicon Valley Bank — Series A
- 500 Global (https://capitalatlas.ai/funds/500-global) — Series A
- Lightbank (https://capitalatlas.ai/funds/lightbank) — Series A, Series B
- IA Capital Group (https://capitalatlas.ai/funds/ia-capital-group) — Series B, Series C
- Cox Enterprises Inc. — Series B, Series C, Series D
- Hyde Park Venture Partners (https://capitalatlas.ai/funds/hyde-park-venture-partners) — Series B
- American Family Ventures (https://capitalatlas.ai/funds/american-family-ventures) — Series B, Series C, Series D
- OMERS Ventures (https://capitalatlas.ai/funds/omers-ventures) — Series C, Series D
- Eldridge Industries (https://capitalatlas.ai/funds/eldridge-industries) — Series D, Series E