CoverHound, a San Francisco, CA-based property and casualty (P&C) insurance platform for digital distribution, raised $58m in Series D funding.
The round, which brought the total capital raised since launch in early 2010 to over $112m, was led by Hiscox, with participation from Chubb, Aflac Ventures and MS&AD.
The company intends to use the funds to continue to develop CyberPolicy, to expand its offices beyond San Francisco and Westlake Village, California, to Charlotte, North Carolina and grow internationally into Japan and other global markets.
The investment will also support the growth of partnerships with banks, large insurers and technology providers in 2019.
Led by CEO Keith Moore, CoverHound is an insurtech company for consumers and businesses to compare and purchase insurance from US carriers (including Chubb, Hiscox, Progressive, Liberty Mutual, biBERK, Safeco, Nationwide, Mercury, Hartford Steam Boiler and others) based on their specific needs.
Over the past eight years, the company has sold more than 200,000 policies and continues to deliver fast, accurate and actionable business and personal insurance options.
This past November, CoverHound’s subsidiary, CyberPolicy, began providing SMBs with cyber insurance options through Progressive Insurance. In May of 2018, CoverHound partnered with Hiscox to offer cyber insurance via CyberPolicy.