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§ Private Profile · San Francisco, CA, USA
An online insurance marketplace helping consumers and small businesses compare and purchase auto, home, renters, motorcycle, and cyber insurance.
CoverHound has raised $110.8M across 5 funding rounds.
Key people at CoverHound.
CoverHound has raised $110.8M in total across 5 funding rounds.
San Francisco-based CoverHound is an online insurance marketplace that enables consumers and small business owners to compare and purchase property, casualty, and cyber insurance policies. Operating as a digital broker, the platform has facilitated the sale of more than 200,000 personal and commercial policies since its inception. The company aggregates real-time quotes by partnering with major insurance carriers, including Liberty Mutual and Progressive. In addition to its core consumer offerings, the firm launched a dedicated subsidiary called CyberPolicy to help small and medium-sized enterprises identify vulnerabilities and secure cyber coverage. Before its November 2020 acquisition by insurance brokerage Brown & Brown, the venture-backed firm raised over $112 million in total funding from investors such as Blumberg Capital and RRE Ventures, reaching a $103 million valuation in 2015. CoverHound was founded in 2010 by Basil Enan.
CoverHound is an InsurTech company that operates an online platform enabling consumers and small businesses to compare, quote, and purchase insurance policies from A-rated U.S. carriers across all 50 states.[1][4][5] It serves individuals and business owners seeking personal lines (auto, home, renters, motorcycle) and commercial coverage (general liability, workers' compensation, cyber liability), solving the problem of opaque, time-consuming insurance shopping by delivering fast, accurate, personalized rates through a user-friendly comparison engine.[1][2][4] As part of Brown & Brown, Inc. (NYSE: BRO) since its 2020 acquisition, CoverHound leverages the parent's national network while focusing on digital innovation in the micro-commercial segment, with a fully remote team of 51-200 employees driving growth via strategic carrier partnerships like Progressive and Travelers.[1][3][5]
CoverHound was founded in 2010 in California by Basil Enan, who serves as CEO and aimed to eliminate the "messy and opaque nature" of insurance shopping, starting with a web-based auto insurance comparison tool launched in 2012.[2][3][7] Enan's background includes building relationships with over 60 insurance carriers before the insurtech venture, drawing from prior underwriting roles.[3] The idea emerged from recognizing consumers' need for transparent marketplaces; early traction came via expansion to home, renters, and motorcycle insurance, supported by a $4.5 million funding round in its startup phase and total raises of $117.75M before acquisition.[2][6][3] A pivotal moment was its November 2020 acquisition by Brown & Brown, Inc., integrating it into a major brokerage while preserving its tech-driven model.[1][3][4]
CoverHound rides the InsurTech wave, digitizing a fragmented $1T+ U.S. insurance market by automating comparisons and reducing friction in a sector historically reliant on agents and paperwork.[1][2][4] Its timing aligns with post-2010 fintech booms and rising demand for online marketplaces amid e-commerce growth, accelerated by the 2020 acquisition amid pandemic-driven digital shifts.[3] Favorable market forces include regulatory openness to tech brokers, small business insurance needs (e.g., cyber risks), and consumer preference for transparency over opaque quotes.[1][5] It influences the ecosystem by pioneering scalable comparison tools, inspiring competitors like Jerry and Insure.com, while Brown & Brown's scale amplifies its reach in retail and micro-commercial segments.[3]
CoverHound is poised to expand within Brown & Brown by deepening AI-enhanced quoting, targeting underserved micro-commercial niches like gig economy and cyber coverage amid rising risks.[1][4][5] Trends like embedded insurance, real-time data integration, and regulatory pushes for transparency will propel its growth, potentially boosting market share through national expansion. Its influence may evolve from pure-play InsurTech to a hybrid model blending tech with brokerage expertise, solidifying its role as a transparent gateway for insurance shoppers nationwide—echoing its founding mission to simplify a complex industry.[2][3]
CoverHound has raised $110.8M across 5 funding rounds. Most recently, it raised $58.0M Series D in February 2019.
Key people at CoverHound.
CoverHound has raised $110.8M in total across 5 funding rounds.
CoverHound's investors include Kevin Kerridge, Aflac Ventures, Chubb, MS&AD Ventures, ACE & Company, Core Innnovation Capital, Cota Capital, Deep Fork Capital, Founders Fund, RRE Ventures, SciFi VC, Josh Abramowitz.
