Cover Genius, the insurtech for embedded insurance, said on July 15 it raised $100 million in capital, backed by Vista Credit Partners, a subsidiary of Vista Equity Partners.
The raise ups the business to a $1.9 billion valuation, said Cover Genius, adding that it will use the new capital to deepen enterprise partnerships with enhanced integration, scale AI capabilities, and invest in platform scalability and strategic acquisitions.
Cover Genius operates a B2B2C embedded protection platform that connects 200+ partners with 50+ global insurance carriers to protect over 70 million end customers at the point of sale across travel, retail, ticketing and logistics. Unlike traditional insurers, Cover Genius said it adapts product design, pricing, and presentation in real time to match each merchant’s unique customer journey and geography mix.
“Today’s raise is about broadening possibilities: moving faster, going deeper into our partnerships, and building the AI capabilities that help people move through every step of their digital journey with certainty,” said Gus McDonald, co-founder and CEO of Cover Genius.
In 2025, Cover Genius said it grew revenue 50% year-over-year and crossed cumulative gross written sales of $3 billion.
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