Genius, which provides insurtech solutions to companies including Booking
Holdings, Hopper, Skyscanner and Ryanair, has raised $70 million in Series D
The round was led by Dawn Capital, with participation from new investor New York-based
Atlas Merchant Capital and existing investors including GSquared and King River
Genius says the funding, an oversubscribed round, “represents a significant
valuation uplift” from its Series
C in 2021.
then the company says it has reached $1.1 million in daily gross written
premium and nearly tripled its year-over-year revenue.
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always been strategic about our approach to fundraising and closing our
highest-ever funding round in a challenging environment for raising capital
reinforces the strength of our embedded business model,” says Angus McDonald,
CEO and co-founder of Cover Genius.
are dissatisfied with traditional insurers who went missing during the pandemic
and consistently deliver low post-claim Net Promoter Scores (NPS) scores. Our
tech-forward solution focuses on a seamless and transparent customer journey
and, in contrast to traditional insurers, delivers a post-claim NPS of +65‡.”
Genius offers embedded insurance products to a variety of verticals, including
airlines and online travel agencies as well as retail, financial services, real
estate and more.
platform is licensed or authorized in more than 60 countries and all 50 U.S.
Genius is rethinking insurance distribution with a tech-forward platform that
enables partners and end-customers to provide and access protection at the
point of need,” says Dan Chaplin, principal at Dawn Capital.
insurance is a rapidly growing segment of the market, and Cover Genius has
built a leading platform that is globally enabled, multi-line and end-to-end.
They’re working with some of the world’s largest platforms in multiple
industries and have combined exponential growth this year with an exceptionally
strong business model. We’re excited to support Cover Genius as it continues to
reshape the insurance industry and enable easy protection for consumers and