CoverWallet, a NYC-based business insurance startup, closed an $18.5m Series B funding.
The round was led by Foundation Capital with participation from existing investors Union Square Ventures, Index Ventures, CV Starr, and Two Sigma Ventures. As part of the funding, Charles Moldow, Partner at Foundation Capital, has joined CoverWallet’s board of directors.
The company, which has secured over $30m in venture capital funding to date, plans to use the new funding to continue building its core technology, expand partnerships, and scale operations.
Led by Inaki Berenguer, Co-Founder and CEO, CoverWallet provides small businesses with a platform to understand, buy and manage their insurance.
By leveraging data, the company allows thousands of small businesses to get tailored advice and personalized insurance online.