Cover Genius, an insurance technology specialist, has raised $10 million in Series B funding.
The investment was led by King River Capital with the Belfer family, Jasper Tans, Regal Funds Management and Marinya Capital also participating.
Cover Genius, which was founded in 2014, provides insurance policies via its insurance distribution technology.
It also pays approved claims via an instant payments platform in more than 90 currencies.
The company plans to use the investment to support its ongoing growth in the United States and the United Kingdom, as well as into Asia.
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Cover Genius CEO and co-founder, Angus McDonald says:
“The insurance industry has been held back by legacy systems and a lack of global coordination and customer centricity for decades. We sought to change that and create simple, yet useful, policies, streamline the claims process and enable the world’s largest online companies to protect their global customers.”
He adds that this latest funding will help Cover Genius expand in half a dozen new countries.