What is SquareTrade?
Founded in 1999 and now a subsidiary of Allstate insurance, SquareTrade specializes in providing comprehensive protection plans and coverage for a wide array of electronic devices, including smartphones and laptops. Headquartered in Brisbane, California, the company has established itself as a leader in offering reliable and accessible warranty solutions, safeguarding consumers against the risks of device malfunction and accidental damage. Its integration with Allstate signifies a robust backing and a commitment to scaling its services.
How much funding has SquareTrade raised?
SquareTrade has raised a total of $247.7M across 4 funding rounds:
Other Financing Round
$400K
Other Financing Round
$300K
Series B
$9M
Private Equity
$238M
Other Financing Round (1999): $400K with participation from Draper Richards Kaplan Foundation
Other Financing Round (2000): $300K led by Thomas Layton, Global Investment Partners, and Argus Capital
Series B (2000): $9M supported by Thomas Layton, Argus Capital, Chase Capital Partners, Staenberg Venture Partners, and Draper Richards Kaplan Foundation
Private Equity (2012): $238M featuring Bain Capital, LLC
Key Investors in SquareTrade
Bain Capital, LLC
Founded in 1984, Bain Capital is a leading global private investment firm with a focus on creating lasting impact across Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. They offer flexible funding tailored to specific company needs.
Draper Richards Kaplan Foundation
Established in 2002, the Draper Richards Kaplan Foundation is a global venture philanthropy firm supporting early-stage, high-impact social enterprises focused on areas like healthcare, education, and social justice.
Argus Capital
Argus Capital is an independent investment firm supported by leading institutional investors and family offices, focusing on investments in various companies and providing access to debt financing.
What's next for SquareTrade?
The recent major strategic investment in SquareTrade signals a pivotal moment for the company, likely indicating a phase of accelerated scaling and market penetration. This capital infusion is expected to bolster its technological infrastructure, expand its service offerings, and potentially explore new market segments or partnerships. As a subsidiary of Allstate, SquareTrade is well-positioned to leverage its parent company's extensive resources and brand recognition to further solidify its dominance in the device protection industry and adapt to the evolving consumer electronics market.
See full SquareTrade company page
