Clearcover, a U.S.-based car insurance platform, announced earlier this week it secured $200 million through its Series D funding round, which was led by Eldridge, with participation from American Family Ventures, Cox Enterprises, and OMERS Ventures.
Founded in 2016, Clearcover describes itself as the smarter car insurance choice, offering better coverage for less money.
“Clearcover’s API-first approach enables customers to have great insurance at affordable rates. The company’s powerful technology coupled with its dedicated Customer Advocate team ensures a quality experience. Built for modern drivers, Clearcover makes it easy to get reliable car insurance in minutes.”
Speaking about the company’s growth and development since launching, the Clearcover team stated:
“It’s an exciting time. Clearcover is building something no one has ever built before. And we’ll continue to put the values, people, and teams in place that will promote and sustain a thriving company culture. In other words, we plan to grow right, and we hope you’ll join us for the journey.”
Clearcover added that the investment round’s funds will be used to accelerate the innovation of its digital insurance offerings by investing in (and growing in) its insurance, product, and engineering teams.