Companion Protect, a Kansas City-based pet insurance and pet wellness administration company, has secured $20.25m in an extension of its Series A funding.
The extension round attracted investments from existing Series A investors, which include Avanta Ventures, Liberty Mutual Insurance, Old Republic International Corporation, and Stray Dog Enterprises, according to the Coverager.
Founded in 2015, Companion Protect offers pet insurance programs tailored for major insurers such as Liberty Mutual, Safeco, and CSAA Insurance Group.
Additionally, the company develops custom insurance programs for animal shelters, retailers, and benefit providers, aiming to provide comprehensive coverage and wellness solutions for pets.
The funds from this latest round will be used to drive product and partner expansion. Companion Protect also plans to channel the investment into digital innovation, focusing on enhancing the customer experience for pet owners.
Notably, the company recently secured a contract with “another Top 5 insurer” to launch a new pet insurance program, further cementing its position in the industry.
Chuck Laue, founder and CEO of Companion Protect, said, “This level of investment from our strategic partners demonstrates incredible belief in our purpose to ensure better outcomes for pets because pets make us happy. Additional investment reflects our investors’ confidence in the Companion Protect team to deliver customised pet healthcare solutions to our channel partners and their customers.”
This latest funding follows the $27m Series A round Companion Protect completed in 2023, showing continued investor confidence in the company’s growth and mission.
Copyright © 2024 InsurTech Analyst
