GetCovered.io Raises $ 7 Million in Series A Financing Led by RET Ventures to Streamline Insurance Process for Property Managers and Tenants

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NEW YORK, November 09, 2021– (BUSINESS WIRE) –GetCovered.io, the insurance software company that makes it easy to buy and track P&C insurance online, today announced the completion of its $ 7 million Series A financing round led by RET Ventures and joined by Updater, Pelican Ventures and Crocker Mountain. In addition to capital investment, Strategic Round Investors also provide direct access to over 6 million rental units and over 30 million square feet of real estate.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211109006238/en/

GetCovered is an insurance software company that makes it easy to buy and track P&C insurance online (Graphic: Business Wire)

GetCovered works with insurance companies, agencies, multi-family landlords / operators, and cutting-edge tech companies to ensure tenants purchase the minimum required policy from a community – for residential and commercial leases – and follow through policies throughout the term of the lease. GetCovered provides partners with a customizable interface for tenants to purchase insurance from A-rated operators, as well as a back-end policy administration portal for verification, tracking, billing and administration of claims. COI policies.

Founded by Brandon Tobman, Dylan Gaines and Ryan Solomon in 2018, GetCovered was designed to bridge the gap between the insurance and real estate industries.

“By bringing together all the relevant insurance products for apartment residents, we are able to simplify the process for each stakeholder while providing valuable ancillary benefits to owners, including policy administration and COI tracking. Said Brandon Tobman, CEO of GetCovered. “In lifting this round, we were especially excited to be working with strategic investors like RET Ventures and Updater, who have incredible influence and expertise in the real estate industry. Our mission has been to become the Shopify of Insurance and give to the most small property managers and insurance agencies have access to the same tools as large corporations, and this infusion of capital will help turn that vision into reality. “

GetCovered’s business partners include Updater, the country’s largest moving platform, Marsh, NFP, Confie and other major insurance agencies.

“GetCovered’s unique approach to partner distribution helps them acquire customers much more profitably than their direct-to-consumer competitors,” said John Helm, partner of RET Ventures. “Besides its obvious value to property managers, the company also has synergies with several of our portfolio companies, which has made GetCovered a very attractive investment opportunity for us.”

GetCovered helps both agencies and operators modernize their own technology so they can sell any insurance product online at scale and administer billing and payments to compete with today’s insurtechs. hui. GetCovered has more than five hundred insurance companies and agencies among its clients.

GetCovered API fully integrates with a wide range of property management software including Yardi Voyager, Onesite, MRI and Entrata, creating additional efficiencies for the real estate industry by integrating insurance tracking into their processes. existing. The platform also powers several insurance-related proptech companies including Belong Homes, Obie Risk and Knox Financial.

As part of improving the moving process, Updater helps its users easily register for key services in their new home, including utilities, internet service, and insurance. GetCovered and Updater have signed a business agreement to help residents more efficiently purchase the right insurance policies with the right minimum requirements.

“Updater is dedicated to creating a more enjoyable and less stressful moving experience. Providing our users with a seamless experience of setting up insurance in their new home is essential for a big move, ”said David Greenberg, Founder and CEO of Update. “GetCovered’s unique platform will benefit not only millions of Updater users, but hundreds of our real estate partners as well, which is why we are delighted to support GetCovered’s mission.”

About GetCovered.io

GetCovered gives tenants and homeowners a better way to purchase insurance. The GetCovered software platform is a single portal that streamlines all forms of property insurance, providing property managers and their residents with tenant insurance, liability programs, security deposit alternatives and other products. risk management. The platform leverages proprietary technology and an easy-to-use interface, as well as partnerships with leading insurance agencies, property managers and proptech companies, to deliver a wide range of solutions for insurance with just a few clicks, eliminating the time and hassle of tenants and landlords.

About RET Ventures

A leading real estate technology investment firm, RET Ventures is the first industry-backed start-up venture capital fund to strategically focus on helping the creation of cutting-edge ‘rental technologies’ – a technology for multi-family and single-family rental real estate. RET’s strategic investor base includes some of the largest REITs and private owner-operators and property managers, who control approximately 2.4 million apartments. Thanks to its in-depth expertise and relationships within the industry, RET has created a unique real estate innovation ecosystem that offers significant value to the companies it supports, giving them access to thought leaders, partners development and continuous advice. For more information, please visit www.ret.vc.

About update technologies

Updater, the US leader in ReloTech, makes it easy for the millions of US homes that move each year. Updater streamlines the moving process by serving as a centralized hub where consumers can easily accomplish everything they need, such as connecting internet service and transferring utilities, booking a moving company, updating their address and more. . Over 1,000 real estate companies have partnered with Updater to provide a simplified moving experience for their clients. For more information, please visit www.updater.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211109006238/en/

Contacts

Media:
Shlomo Morgulis
Group of antennas
201-465-8007
Shlomo.morgulis@antennagroup.com


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