Auto-insurance startup Clearcover raises $200 million
The company plans to move into new markets and double its headcount again this year.
Online auto-insurance startup Clearcover raised $200 million in fresh funding.
The Chicago-based company has been steadily adding markets since it started selling insurance in 2018 in California. It now sells in 15 states, including Illinois. The company doubled revenue last year, says CEO Kyle Nakatsuji, though he declined to specify how much. The company also doubled its headcount to 250 people.
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Nakatsuji said Clearcover will double its staff again this year, adding employees to insurance, product and engineering teams. The company recently hired Norman Smagley, former chief financial officer of Gogo.
Clearcover has raised $200 million in fresh capital as part of a late-stage financing round led by Eldridge, the investment firm helmed by Los Angeles Dodgers owner Todd Boehly, the digital car-insurance startup will announce on Tuesday.
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Chicago, IL (PRWEB) January 12, 2021 Clearcover, the smarter car insurance choice, has been honored with a Glassdoor Employees’ Choice Award in the U.S.