Monday, March 9, 2015

Coverhound Raises $14M To Ramp Hiring In Westlake Village

CoverHound, a startup which offers up an online marketplace for auto, motorcycle, home, and renter's insurance, said this morning that it has doubled its space in Southern California, as part of a new funding round for the company. CoverHound--which is headquartered in San Francisco--said it has doubled its office space in Westlake Village, to accommodate growth of its service. The company said this morning that it has raised $14M in a Series B fun ding, with new funding from LA's Core Innovation Capital, along with Thomas Lehrman, Tugboat Ventures, Route 66 Ventures and American Family Ventures, the venture capital arm of American Family Insurance, plus its existing investors, which include RRE Ventures, Blumberg Capital and Bullpen Capital. Core Innovation's Arjun Schutte joins the company's board with the new funding, which brings its total raised to over $20M. CoverHound specifically said the funding allow it to hire more staff for its insurance agency operations center in Westlake Village.