{"id":252255,"date":"2025-05-22T15:37:38","date_gmt":"2025-05-22T15:37:38","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/insurance\/insurance-startup-clearcover-raises-200m-creating-unicorn-valued-at-1b-reuters\/"},"modified":"2025-05-22T15:37:38","modified_gmt":"2025-05-22T15:37:38","slug":"insurance-startup-clearcover-raises-200m-creating-unicorn-valued-at-1b-reuters","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=252255","title":{"rendered":"Insurance Startup Clearcover Raises $200M, Creating Unicorn Valued at $1B: Reuters"},"content":{"rendered":"<p> <br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2021\/04\/bigstock-big-data-technology-for-business-336036649-580x370.jpg\" \/><\/p>\n<div>\n<p class=\"reuters\">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.<\/p>\n<p>In a statement seen by Reuters ahead of the announcement, Chicago-based Clearcover did not comment on its valuation, but a person familiar with the deal said the latest round would make it a so-called \u201cunicorn\u201d \u2013 implying a valuation of $1 billion or more.<\/p>\n<p>The Series D funding round also includes investments from existing investors, including American Family Ventures, Cox Enterprises and OMERS Ventures, as well as several new investors, Clearcover will announce in the statement.<\/p>\n<p>The COVID-19 pandemic has reduced the importance of physical networks of agents in insurance and helped \u201cinsurtech\u201d providers like Clearcover, which uses artificial intelligence and big data to reduce costs and better target customers.<\/p>\n<p>Global investment in the sector jumped 12% to $7.1 billion for 2020, a record high, according to Willis Towers Watson.<\/p>\n<p>\u201cWe like many other insurers saw COVID-19 as a light tailwind. We\u2019re a digital auto insurer, people still had to buy car insurance. They were shopping online more than ever,\u201d Chief Executive Officer Kyle Nakatsuji told Reuters ahead of the announcement.<\/p>\n<p>\u201cThere\u2019s (also) this ongoing and broader transformation in the industry which the pandemic has accelerated,\u201d he added.<\/p>\n<p>Founded in 2016, Clearcover has focused on auto insurance, although Nakatsuji said they were planning to expand into new areas. He declined to provide details but said the company was studying a number of possible avenues.<\/p>\n<p>The company will use the funds to increase its headcount and invest in new products. Clearcover also plans to expand to close to 25 U.S. states by the end of the year from the current 15 states.<\/p>\n<p>(Reporting by Noor Zainab Hussain in Bengaluru and David French in New York; editing by Patrick Graham and Anil D\u2019Silva)<\/p>\n<p><strong>Related:<\/strong><\/p>\n<p class=\"tagtag\">\n            <span class=\"tagtag\">Topics<\/span><br \/>\n            <a href=\"https:\/\/www.insurancejournal.com\/insurtech\/\" class=\"btn btn-sm btn-primary tagtag\" style=\"color: #fff; padding: 2px 8px; text-decoration: none; margin: 0 2px;\">InsurTech<\/a>\n                    <\/p>\n<\/p><\/div>\n<div data-post=\"609634\">\n<div class=\"article-poll-vote\">\n<p>Was this article valuable?<\/p>\n<p>\n            <button class=\"article-poll-yes\">Yes<\/button><br \/>\n            <button class=\"article-poll-no\">No<\/button>\n        <\/p>\n<\/p><\/div>\n<div class=\"article-poll-more-articles\">\n<p class=\"thank-you-text\">Here are more articles you may enjoy.<\/p>\n<\/p><\/div>\n<\/div>\n<div>\n<div class=\"content\">\n<h4>Interested in <em>Funding<\/em>?<\/h4>\n<p>Get automatic alerts for this topic.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>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. In a statement seen by Reuters ahead of the announcement, Chicago-based Clearcover did not comment on its valuation, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":252257,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[94],"tags":[1214,91774,18025,91775,11513,11034,91776,91777,16585,42423,11439,828,13967],"dealstore":[],"offerexpiration":[],"class_list":["post-252255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insurance","tag-200m","tag-business-moves-mergers","tag-car-insurance","tag-clearcover","tag-creating","tag-insurance","tag-insurtech-funding","tag-ontario-municipal-employees-retirement-system-omers","tag-raises","tag-reuters","tag-startup","tag-unicorn","tag-valued"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Insurance Startup Clearcover Raises $200M, Creating Unicorn Valued at $1B: Reuters - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=252255\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Insurance Startup Clearcover Raises $200M, Creating Unicorn Valued at $1B: Reuters - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"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. In a statement seen by Reuters ahead of the announcement, Chicago-based Clearcover did not comment on its valuation, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fivemor.com\/?p=252255\" \/>\n<meta property=\"og:site_name\" content=\"Som2ny Network\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-22T15:37:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/bigstock-big-data-technology-for-business-336036649-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1635\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/fivemor.com\/?p=252255#article\",\"isPartOf\":{\"@id\":\"https:\/\/fivemor.com\/?p=252255\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371\"},\"headline\":\"Insurance Startup Clearcover Raises $200M, Creating Unicorn Valued at $1B: Reuters\",\"datePublished\":\"2025-05-22T15:37:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/fivemor.com\/?p=252255\"},\"wordCount\":351,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/fivemor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/?p=252255#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/bigstock-big-data-technology-for-business-336036649-scaled.jpg\",\"keywords\":[\"200m\",\"Business Moves &amp; Mergers\",\"car insurance\",\"Clearcover\",\"Creating\",\"insurance\",\"insurtech funding\",\"Ontario Municipal Employees Retirement System (OMERS)\",\"raises\",\"Reuters\",\"startup\",\"Unicorn\",\"valued\"],\"articleSection\":[\"Insurance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/fivemor.com\/?p=252255#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fivemor.com\/?p=252255\",\"url\":\"https:\/\/fivemor.com\/?p=252255\",\"name\":\"Insurance Startup Clearcover Raises $200M, Creating Unicorn Valued at $1B: Reuters - Som2ny Network\",\"isPartOf\":{\"@id\":\"https:\/\/fivemor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/fivemor.com\/?p=252255#primaryimage\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/?p=252255#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/bigstock-big-data-technology-for-business-336036649-scaled.jpg\",\"datePublished\":\"2025-05-22T15:37:38+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/fivemor.com\/?p=252255#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fivemor.com\/?p=252255\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fivemor.com\/?p=252255#primaryimage\",\"url\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/bigstock-big-data-technology-for-business-336036649-scaled.jpg\",\"contentUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/bigstock-big-data-technology-for-business-336036649-scaled.jpg\",\"width\":2560,\"height\":1635},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fivemor.com\/?p=252255#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fivemor.com\/?bp_activities=1\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Insurance Startup Clearcover Raises $200M, Creating Unicorn Valued at $1B: Reuters\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fivemor.com\/#website\",\"url\":\"https:\/\/fivemor.com\/\",\"name\":\"Som2ny Network\",\"description\":\"Daily Deals\",\"publisher\":{\"@id\":\"https:\/\/fivemor.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fivemor.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/fivemor.com\/#organization\",\"name\":\"Som2ny Network\",\"url\":\"https:\/\/fivemor.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/07\/4a0953c4-logo-300x86-1.png\",\"contentUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/07\/4a0953c4-logo-300x86-1.png\",\"width\":300,\"height\":86,\"caption\":\"Som2ny Network\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/729ae85bf62b9917e93538db2f2688ca?s=96&r=g&default=https%3A%2F%2Ffivemor.com%2Fwp-content%2Fplugins%2Fbuddypress-first-letter-avatar%2Fimages%2Fdefault%2F96%2Flatin_a.png\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/729ae85bf62b9917e93538db2f2688ca?s=96&r=g&default=https%3A%2F%2Ffivemor.com%2Fwp-content%2Fplugins%2Fbuddypress-first-letter-avatar%2Fimages%2Fdefault%2F96%2Flatin_a.png\",\"caption\":\"admin\"},\"sameAs\":[\"https:\/\/fivemor.com\"],\"url\":\"https:\/\/fivemor.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Insurance Startup Clearcover Raises $200M, Creating Unicorn Valued at $1B: Reuters - Som2ny Network","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fivemor.com\/?p=252255","og_locale":"en_US","og_type":"article","og_title":"Insurance Startup Clearcover Raises $200M, Creating Unicorn Valued at $1B: Reuters - Som2ny Network","og_description":"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. In a statement seen by Reuters ahead of the announcement, Chicago-based Clearcover did not comment on its valuation, [&hellip;]","og_url":"https:\/\/fivemor.com\/?p=252255","og_site_name":"Som2ny Network","article_published_time":"2025-05-22T15:37:38+00:00","og_image":[{"width":2560,"height":1635,"url":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/bigstock-big-data-technology-for-business-336036649-scaled.jpg","type":"image\/jpeg"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/fivemor.com\/?p=252255#article","isPartOf":{"@id":"https:\/\/fivemor.com\/?p=252255"},"author":{"name":"admin","@id":"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371"},"headline":"Insurance Startup Clearcover Raises $200M, Creating Unicorn Valued at $1B: Reuters","datePublished":"2025-05-22T15:37:38+00:00","mainEntityOfPage":{"@id":"https:\/\/fivemor.com\/?p=252255"},"wordCount":351,"commentCount":0,"publisher":{"@id":"https:\/\/fivemor.com\/#organization"},"image":{"@id":"https:\/\/fivemor.com\/?p=252255#primaryimage"},"thumbnailUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/bigstock-big-data-technology-for-business-336036649-scaled.jpg","keywords":["200m","Business Moves &amp; Mergers","car insurance","Clearcover","Creating","insurance","insurtech funding","Ontario Municipal Employees Retirement System (OMERS)","raises","Reuters","startup","Unicorn","valued"],"articleSection":["Insurance"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/fivemor.com\/?p=252255#respond"]}]},{"@type":"WebPage","@id":"https:\/\/fivemor.com\/?p=252255","url":"https:\/\/fivemor.com\/?p=252255","name":"Insurance Startup Clearcover Raises $200M, Creating Unicorn Valued at $1B: Reuters - Som2ny Network","isPartOf":{"@id":"https:\/\/fivemor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/fivemor.com\/?p=252255#primaryimage"},"image":{"@id":"https:\/\/fivemor.com\/?p=252255#primaryimage"},"thumbnailUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/bigstock-big-data-technology-for-business-336036649-scaled.jpg","datePublished":"2025-05-22T15:37:38+00:00","breadcrumb":{"@id":"https:\/\/fivemor.com\/?p=252255#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fivemor.com\/?p=252255"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fivemor.com\/?p=252255#primaryimage","url":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/bigstock-big-data-technology-for-business-336036649-scaled.jpg","contentUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/bigstock-big-data-technology-for-business-336036649-scaled.jpg","width":2560,"height":1635},{"@type":"BreadcrumbList","@id":"https:\/\/fivemor.com\/?p=252255#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fivemor.com\/?bp_activities=1"},{"@type":"ListItem","position":2,"name":"Insurance Startup Clearcover Raises $200M, Creating Unicorn Valued at $1B: Reuters"}]},{"@type":"WebSite","@id":"https:\/\/fivemor.com\/#website","url":"https:\/\/fivemor.com\/","name":"Som2ny Network","description":"Daily Deals","publisher":{"@id":"https:\/\/fivemor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fivemor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/fivemor.com\/#organization","name":"Som2ny Network","url":"https:\/\/fivemor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fivemor.com\/#\/schema\/logo\/image\/","url":"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/07\/4a0953c4-logo-300x86-1.png","contentUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/07\/4a0953c4-logo-300x86-1.png","width":300,"height":86,"caption":"Som2ny Network"},"image":{"@id":"https:\/\/fivemor.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fivemor.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/729ae85bf62b9917e93538db2f2688ca?s=96&r=g&default=https%3A%2F%2Ffivemor.com%2Fwp-content%2Fplugins%2Fbuddypress-first-letter-avatar%2Fimages%2Fdefault%2F96%2Flatin_a.png","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/729ae85bf62b9917e93538db2f2688ca?s=96&r=g&default=https%3A%2F%2Ffivemor.com%2Fwp-content%2Fplugins%2Fbuddypress-first-letter-avatar%2Fimages%2Fdefault%2F96%2Flatin_a.png","caption":"admin"},"sameAs":["https:\/\/fivemor.com"],"url":"https:\/\/fivemor.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/posts\/252255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=252255"}],"version-history":[{"count":0,"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/posts\/252255\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/media\/252257"}],"wp:attachment":[{"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=252255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=252255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=252255"},{"taxonomy":"dealstore","embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fdealstore&post=252255"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fofferexpiration&post=252255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}