InsurTech app Cover closes Series A led by Social Capital

Insurance mobile app Cover has closed its Series A funding round, which brings total investments into the company to $11m.

This latest funding round, which was led by Social Capital, closed on $8m and follows a $3m angel investment last year, according to various media reports.

Cover is an iOS and Android mobile application which lets users insure a product by just taking a picture of it. The platform lets people insure anything which can be insured, cars, homes, pets, jewellery and even life insurance.

The platform is available across the US and is partnered with 30 insurance carriers, so it can offer the best rates available.

Cover recently launched a computer vision service on its app, allowing users to walk around their home and the app will auto-detect, identify and catalogue their property against insurance policies.

Following the transaction, Social Capital Partner Arjun Sethi has joined Cover’s board of directors.

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