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FT Partners Advises Clearcover on its $200,000,000 Series D Financing Led by Eldridge

Overview of Transaction

  • On April 13, 2021, Clearcover announced it has raised $200 million in its Series D financing round
  • The investment was led by Eldridge with participation from existing investors, including American Family Ventures, Cox Enterprises, OMERS, as well as other new investors
  • Clearcover has raised $329 million in total funding to date
  • Clearcover is the smarter car insurance choice, offering better coverage for less money
  • Clearcover’s customer-first, service-focused model powered by advanced technology delivers a convenient, reliable and affordable experience
  • Built for today’s driver, Clearcover takes the guesswork out of car insurance, making it easy to save money, get insured, and get serviced on the go
  • Since its founding in 2016, Clearcover has expanded to 15 states and has achieved significant momentum

Significance of Transaction

  • This recent round of funding positions Clearcover as the company to watch in an industry that continues to experience accelerated digital transformation
  • The funding will accelerate innovation of the Company’s digital insurance offerings, by enabling Clearcover to invest in and grow its team of engineers and developers

FT Partners' Role

  • FT Partners served as exclusive financial and strategic advisor to Clearcover
  • This transaction highlights FT Partners’ deep domain expertise in the InsurTech sector, as well as its successful track record generating highly favorable outcomes for high-growth FinTech companies