# Cover Genius

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cover-genius

- Industry: Insurance
- Headquarters: New York, US
- Website: www.covergenius.com
- Total disclosed funding: $233M
- Latest round: Series E (May 15, 2024)
- Investors on record: 9

## About

Cover Genius, based in the US, specializes in embedded insurance and protection products, enabling seamless integration into diverse customer journeys across various industries, including travel and e-commerce. Founded in 2014 in New York by, Angus Mcdonald and Chris Bayley US, Cover Genius operates as an insurance technology company, providing innovative solutions in embedded insurance. In July 2026, Cover Genius, Inc. raised USD 100 million in venture funding from Vista Credit Partners. Cover Genius offers a range of embedded insurance solutions, including the XCover platform, which facilitates instant payments for approved claims in over 90 currencies, and RentalCover, a platform for rental car insurance. Their services enhance customer experiences in travel, e-commerce, logistics, and mobility, serving clients in over 60 countries, including the US, Canada, Australia, Germany, and the UK. The company provides localized solutions in more than 40 languages, addressing needs such as dynamic bundling of travel protection and customizable refund protection. Cover Genius generates revenue through partnerships with industries like travel, logistics, and retail, offering embedded insurance solutions to both consumers and businesses. Their B2B model includes collaboration with travel companies to bundle protection into itineraries and with e-commerce platforms for shipping insurance. Revenue is derived from transaction fees on insurance policies sold and ongoing partnership support. 

The company will use the July 2026 funding to expand partnerships, enhance AI capabilities, scale its platform, and support select acquisitions.

## Funding rounds

- Series E, May 15, 2024, $80M — Spark Capital, Dawn Capital, G Squared, King River Capital
- Series D, Nov 1, 2022, $70M — Dawn Capital, G Squared, Atlas Merchant Capital, King River Capital
- Series C, Sep 27, 2021, $73M — G Squared, Sompo Holdings, Inc.
- Series B, Nov 7, 2019, $10M — Regal Funds Management, Belfer Management, King River Capital, Marinya Capital

## Investors

- Regal Funds Management — Series B
- Belfer Management — Series B
- King River Capital (https://capitalatlas.ai/funds/king-river-capital) — Series B, Series D, Series E
- Marinya Capital — Series B
- G Squared (https://capitalatlas.ai/funds/g-squared) — Series C, Series D, Series E
- Sompo Holdings, Inc. — Series C
- Dawn Capital (https://capitalatlas.ai/funds/dawn-capital) — Series D, Series E
- Atlas Merchant Capital (https://capitalatlas.ai/funds/atlas-merchant-capital) — Series D
- Spark Capital — Series E