Updater Invests in GetCovered’s $7M Series A Funding
Updater is dedicated to making moving less stressful for our users. Setting up insurance at a new home is one of the key tasks that every user needs to handle – whether it’s homeowners, renters, auto, or even moving insurance. Yet, the process of knowing what you need or what policy is required to move into a new apartment is often unnecessarily confusing.
To support innovation in the space, we are pleased to announce a partnership and strategic investment in GetCovered, the leading technology company bridging the gap between insurance and property management. Today, GetCovered announced the close of a $7 million Series A fundraise led by RET Ventures with participation from Updater, Pelican Ventures, and Crocker Mountain.
In addition to our strategic investment, Updater and GetCovered have signed a commercial agreement to help our users nationwide shop for and sign up for the right renter’s insurance policies at the appropriate minimum requirements. GetCovered offers a variety of renter-facing insurance products for property management companies that are customizable on a per property, per portfolio, or per asset basis. Offerings include renters insurance, security deposit alternatives, and rent guarantees.
GetCovered’s unique software platform includes simple policy administration, COI tracking, customizable resident-facing websites, analytics, and an API that integrates directly with the leading property management software companies.
Our investment is expected to accelerate GetCovered’s software development velocity and its ability to offer an expanded suite of insurance products, and we look forward to working with the GetCovered team.
For more details on the transaction, please read the full press release.