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Insurtech CoverHound Raises $58 Million to Drive Cyber Unit, Open North Carolina Office

Digital property/casualty insurance platform CoverHound announced it has raised a $58 million Series D funding round. Global specialist insurer Hiscox led the round, along with additional investors including Chubb, Aflac Ventures and Japan-based MS&AD.

The latest round brings the total capital raised since its launch in early 2010 to more than $112 million for the agency that offers online comparison shopping and purchasing for personal and business insurance.

In addition to funding the continued development of CyberPolicy, its small business cyber insurance subsidiary, the round will be used by CoverHound to expand its offices beyond San Francisco and Westlake Village, California to Charlotte, North Carolina.

The funding will also support international expansion efforts into Japan and other global markets, according to the announcement.

"The future of digital insurance distribution will continually shift to more non-traditional insurance brands," said CoverHound CEO Keith Moore.

To read the full article, head over to InsuranceJournal.

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