WithCoverage Raises $42M to Rethink Insurance Broking for High-Growth Businesses

WithCoverage, a New York–based InsurTech company, has raised $42 million in a Series B funding round to push forward its effort to modernize how fast-growing businesses buy and manage insurance. The round was led by Sequoia Capital and Khosla Ventures, with participation from 8VC and Crystal Venture PartnersDealroom has a profile for this one. Try Dealroom →, giving the company fresh resources to support expansion through 2026.

Founded by JD RossDealroom has a profile for this one. Try Dealroom →, co-founder of Opendoor, and Max BrennerDealroom has a profile for this one. Try Dealroom →, the company was built to challenge the traditional commission-driven brokerage model. Instead of earning more when clients pay higher premiums, WithCoverage operates on a flat-fee structure and uses AI to analyze existing insurance programs, uncover coverage gaps, and flag inefficient spending. Dedicated teams of insurance specialists and attorneys then step in to redesign risk strategies and manage negotiations with carriers.

This mix of technology and human expertise has already attracted more than 550 high-growth companies across sectors including technology, consumer goods, hospitality, and defense. Clients use a centralized platform to manage policies, claims, and renewals, replacing fragmented, email-heavy workflows that have long defined insurance operations.

With the new funding, WithCoverage plans to expand its product capabilities, hire more than 75 people, and move into new verticals such as construction and aerospace. The push reflects growing demand for more transparent, data-driven risk management in an industry that has seen little structural change for decades.

Sources:
FinSMEs
Fintech Global
Insurance Nerds

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