Clearcover Raises $200M in Series D Funding


Clearcover, a Chicago, IL-based car insurance provider, closed a $200m Series D funding.

The round was led by Eldridge, with participation from existing investors American Family Ventures, Cox Enterprises, Omers Ventures, as well as several other new investors.

The company, which has raised $329m in total funding, intends to use the funds to grow its insurance, product, and engineering teams, and will double its overall headcount by next year. 

Led by Kyle Nakatsuji, Co-founder and CEO, Clearcover is a car insurance company offering coverage via aservice-focused model powered by advanced technology.  Its Clear Claims™ provides payment on eligible claims within 30 minutes or less. 

The company expanded into several new states and is now available in Arizona, California, Georgia, Illinois, Indiana, Louisiana, Maryland, Missouri, Nebraska, Ohio, Oklahoma, Pennsylvania, Texas, Utah, and Wisconsin.