CoverFox, an online platform which lets you compare and then purchase the most relevant insurance package, has scored a $12 Million worth Series B round, led by Accel partners and SAIF Partners.
The company, which was founded in 2012 by ex-investment veterans, helps its customers by-pass the usual hassled experience of getting an insurance. The startup offers insurance comparison and buying services in domains such as Health, Automobile, Travel and Home.
CoverFox guarantees to provide with you with your required insurance package in just 5 minutes, with timely advise coming from its team of insurance experts. The expert panel has over 10 years of industry and domain expertise, and thus carefully looks at all the fine print and the details. It then rates over 200+ plans so as to offer the customer, the best possible.
CoverFox’s current round comes just six months after it secured a decent seed round from from SAIF Partners and Accel India, both of whom returned as investors for Series B round as well.
India’s Online insurance providing and comparison sector has seen a surge in growth lately. Another similar startup, PolicyBazaar, secured an astounding $40 Million round led by PremjiInvest and other investors. That round brought PolicyBazaar’s total funding to a staggering $69 Million till date.