Today, CoverWallet announces that it has raised a $7.8M Series A investment, led by Union Square Ventures and Index Ventures. They have raised $9.5M to date, from new and existing investors Highland Capital Partners, Two Sigma Ventures, and Founder Collective. Union Square has invested in other companies such as Twitter, LendingClub, Kickstarter, Tumblr, and Twilio. Index has invested in companies such as Slack, Dropbox, Skype, MetroMile, and Wealthfront.
CoverWallet is reinventing how small businesses find and manage their various insurance policies, and to this end, CoverWallet has hired former CEO of online auto insurance company Goji, Jim Ermilio, who joins as President of Insurance. In addition to running Goji, he was also Executive VP and General Counsel of Commerce Insurance, which was acquired for $2.2 billion.
John Buttrick, partner at Union Square Ventures, is also joining the Board of CoverWallet. He's led other USV investments in companies such as FundingCircle, LendingClub, RealtyShares, and SigFig, and is an immensely talented investor and advisor in the financial services sector.
It's an incredibly exciting day to be working with Inaki and Rashmi!!