What is GetCovered?
Founded in 2018 and headquartered in New York City, GetCovered operates within the insurtech industry, specializing in property and casualty insurance software. The company's core mission is to streamline the process of purchasing and managing insurance policies online, making it more accessible and efficient for consumers and businesses alike. By leveraging technology, GetCovered aims to demystify insurance and provide a transparent, user-friendly platform for managing critical property and casualty coverage.
How much funding has GetCovered raised?
GetCovered has raised a total of $6M across 1 funding round:
Other Financing Round
$6M
Other Financing Round (2022): $6M with participation from Lefrak Organization, RET Ventures, State Farm Ventures, and WISE Ventures
Key Investors in GetCovered
Lefrak Organization
The Lefrak Organization is a long-standing, family-owned property development and ownership company with a history dating back to 1901, likely bringing extensive real estate market insights to GetCovered's property and casualty insurance focus.
RET Ventures
RET Ventures is a prominent venture capital firm specializing in real estate technology, indicating a strategic interest in GetCovered's ability to innovate within the property insurance sector for the rental real estate market.
State Farm Ventures
State Farm Ventures, the venture capital arm of a major insurance provider, likely invests in startups that align with or enhance the offerings of established insurance players, suggesting a potential synergy with GetCovered's platform.
What's next for GetCovered?
The substantial enterprise-level backing and recent strategic investment position GetCovered for accelerated growth and market expansion. This influx of capital is expected to fuel further development of its insurance software platform, enhance its customer acquisition strategies, and potentially broaden its service offerings. The company's focus on simplifying complex insurance processes aligns with a growing market demand for digital-first financial solutions, suggesting a trajectory towards becoming a dominant player in the online property and casualty insurance space.
See full GetCovered company page
