CoverHound, a San Francisco, CA-based digital platform for comparing and purchasing insurance, raised $33.3m in Series C financing.
The round, which valued the company at over $100m, was led by ACE Group (NYSE: ACE), a multiline property and casualty insurer, with participation from existing investors RRE Ventures, Blumberg Capital, Core Innovation Capital, Route 66 Ventures and American Family Ventures, the venture capital arm of American Family Insurance. In conjunction with the funding, James D. Robinson III, co-founder and general partner of RRE Ventures, joined the CoverHound board.
The company, which has raised over $53m in funding total, intends to use the funds to invest in talent acquisition to further enhance its digital insurance platform and to introduce new, innovative product offerings for small businesses and entrepreneurs.
Led by Keith Moore, CEO, CoverHound is an online platform for comparing and purchasing insurance, built to deliver actionable rates from US carriers including The General, Esurance, Progressive, 21st Century, Safeco, Infinity, Mercury, Kemper, Travelers, The Hartford, MetLife, etc., based on users’ specific needs.