Get Covered bags an extra $6m for property insurance sector

December 7, 2022

Get Covered, an InsurTech that builds software solutions for the property insurance sector, has raised $6m in Series A-2 funding.

The round was backed by RET Ventures, State Farm Ventures, WISE Ventures and LeFrak.

Founded by Brandon Tobman, Dylan Gaines and Ryan Solomon in 2018, GetCovered was built with the aim of bridging the gap between the insurance and real estate sectors.

Get Covered provides insurance technology products and services for the multifamily industry designed to make buying, selling and tracking insurance as simple and seamless as possible.

The InsurTech’s clients include insurance carriers, insurance agencies, property managers, landlords and membership associations who offer its insurance products to their clients, residents or members.

The funding follows a $7m Series A round that Get Covered closed in November led by RET Ventures and brings the total raised by the company to $14.5m.

In 2022, Get Covered has added more than 600,000 units to its all-in-one activation and COI tracking platform. The company currently operates in 48 states and has been deployed in more than 3,500 apartment communities nationwide.

Get Covered said the new funding will empower it to innovate new products, increase staffing and grow partnerships with insurance carriers, agencies and PropTech companies. The company also plans to significantly expand its client base of renters, apartment owner/operators and property managers and strategically grow in new and existing markets.

Brandon Tobman, CEO of Get Covered, said, “Insurance is a fundamental component of renting for residents, owners, operators and property management teams. Insurance is one of the oldest industries in the world, and it’s also one of the most challenging to change.

“We are proud of the technology solutions we’ve created that have alleviated many of the friction points in buying and tracking insurance. We are excited to continue growing and providing better experiences for renters and optimising risk mitigation strategies for operators.”