Evertas is a technology company.
Evertas has raised $23.0M across 3 funding rounds.
Key people at Evertas.
Evertas has raised $23.0M in total across 3 funding rounds.
Evertas has raised $23.0M in total across 3 funding rounds.
Evertas's investors include Andreessen Horowitz, Bailhe, Rexhep Dollaku, BlueRun Ventures, Foundation Capital, FTX Ventures, Index Ventures, Khosla Ventures, Kraken Ventures, Long Journey Ventures, MATR Ventures, Morgan Creek Capital Management.
# Evertas: High-Level Overview
Evertas is not primarily a technology company—it is an insurance company specializing in cryptocurrency and blockchain risk[1][2]. Founded in 2017, Evertas provides specialized insurance products designed to protect crypto custodians, exchanges, mining operations, investment funds, and family offices against risks including theft, technology failure, and physical damage to mining hardware[1][2].
The company's core mission is to bring scalable risk transfer solutions and subject matter expertise to the crypto industry, thereby driving adoption[3]. Evertas distinguishes itself by being the world's first and only crypto insurance company backed by Lloyd's of London, one of the world's oldest and most trusted insurers[2]. This backing provides Evertas policies with the highest achievable creditworthiness ratings: A- (IX - Excellent) or A+ (XV - Superior)[2]. The company has achieved significant market penetration, supporting approximately 30% of crypto insurance underwriting globally[4].
# Origin Story
Evertas was founded in 2017 by J. Gdanski and Raymond Zenkich to solve the insurance problem in the cryptocurrency industry[4][6]. The company emerged from recognizing a critical gap: as crypto adoption accelerated, institutional players lacked adequate insurance products tailored to their unique risks. The founding team combined cryptonative blockchain expertise with institutional insurance leadership[6].
A pivotal moment came in July 2023 when Evertas acquired Bitsure, a crypto mining specialist founded by Thomas Shewchuck in 2022[5]. Bitsure had been the first managing general underwriter (MGU) solely focused on providing property, business interruption, and liability coverage for cryptocurrency mining companies[3]. This acquisition consolidated Evertas's position as the undisputed leader in crypto insurance by integrating deep mining expertise into the organization[5].
The company has demonstrated strong funding momentum, raising $5.8 million in seed funding by December 2021, followed by a $14 million Series A round led by Polychain Capital in December 2022, bringing total outside investment to $19.8 million[5].
# Core Differentiators
# Role in the Broader Tech Landscape
Evertas operates at the intersection of two major trends: the institutional maturation of cryptocurrency and the emergence of specialized insurtech solutions. As crypto adoption accelerates among institutional investors, miners, and exchanges, the demand for sophisticated risk management tools has become critical. Traditional insurance carriers lack the expertise to underwrite crypto-specific risks, creating a market opportunity that Evertas has uniquely positioned itself to capture.
The company's backing by Lloyd's of London signals institutional validation of the crypto insurance category itself. By bringing traditional insurance credibility to an emerging asset class, Evertas reduces friction for institutional adoption of cryptocurrency infrastructure. This positions the company as a critical enabler of mainstream crypto adoption—institutions cannot scale operations without adequate insurance coverage.
Evertas also influences the broader ecosystem by setting standards for crypto risk assessment and underwriting. Its 30% global market share means the company's underwriting decisions and risk models shape how the industry understands and prices crypto-related risks[4].
# Quick Take & Future Outlook
Evertas has established itself as the category leader in crypto insurance through a combination of institutional credibility (Lloyd's backing), technical expertise (cryptonative team), and operational scale (30% global market share). The 2023 acquisition of Bitsure consolidated its dominance in the high-value mining segment.
Looking forward, Evertas's growth will likely be driven by three factors: continued institutional adoption of crypto infrastructure, expansion into adjacent risk categories (such as AI infrastructure operations, which the company has begun serving[2]), and geographic expansion leveraging its six-continent policy-writing authority. As regulatory frameworks for crypto mature globally, demand for compliant insurance solutions will accelerate, positioning Evertas to capture an expanding market.
The company's evolution from startup to institutional player—evidenced by Lloyd's partnership and Accelerant support—suggests Evertas is transitioning from category creation to category consolidation. Its future influence will depend on whether it can maintain technical expertise and cryptonative culture while scaling as a regulated insurance operation.
Key people at Evertas.
Evertas has raised $23.0M across 3 funding rounds. Most recently, it raised $14.0M Series A in December 2022.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Dec 1, 2022 | $14.0M Series A | Andreessen Horowitz, Bailhe, Rexhep Dollaku, BlueRun Ventures, Foundation Capital, FTX Ventures, Index Ventures, Khosla Ventures, Kraken Ventures, Long Journey Ventures, MATR Ventures, Morgan Creek Capital Management, Multicoin Capital, NFX, Plug & Play Ventures, Polychain Capital, SciFi VC, Sequoia Capital, Union Square Ventures, Wave Financial, White Loop Capital, Akash Garg, Andrew Keys, Asaf Fybish, Balaji Srinivasan, Justin David Blau, Scott Banister, Shayne Coplan, Shy Datika | |
| May 1, 2021 | $6.0M Seed | Early Light Ventures, Arik Steinberg | |
| Jul 1, 2020 | $3.0M Seed | Morgan Creek Capital Management, NFX, Plug & Play Ventures, Wave Financial, Asaf Fybish |
