San Francisco-based CoverHound, a digital platform for comparing and buying insurance, has secured $33.3 million in Series C funding. ACE Group led the round with participation from return backers RRE Ventures, Blumberg Capital, Core Innovation Capital, Route 66 Ventures andAmerican Family Ventures.
SAN FRANCISCO, Sept. 22, 2015 /PRNewswire/ — CoverHound, the leading digital platform for comparing and purchasing insurance, today announced that the company raised $33.3 million in a Series C financing round led by ACE Group (NYSE: ACE), one of the world’s largest multiline property and casualty insurers. The new strategic investment from ACE comes just months after announcing the company’s Series B round, bringing the funding total to over $53 million.
This C round of financing also includes CoverHound’s existing investors RRE Ventures, Blumberg Capital, Core Innovation Capital, Route 66 Ventures and American Family Ventures, the venture capital arm of American Family Insurance.
As a member of the 2nd AngelPad class (Winter 2011), CoverHound now marks the 6th AngelPad company to exceed a $100MM valuation. AngelPad was recently ranked #1 by MIT’s U.S. Seed Accelerator Rankings.