European VC fund Dawn Capital leads Cover Genius' $70 million Series D round

We have advised one of the top VC funds in B2B software, Dawn Capital, on its investment in global insurtech company Cover Genius' $70 million Series D funding round. Dawn Capital led the fundraising, with participation from Atlas Merchant Capital, GSquared and King River Capital. 

Cover Genius specialises in providing embedded insurance to a host of high-profile clients including Inuit, Skyscanner and Ryanair, having recently agreed deals with Turkish Airlines and Air Malta. Its most popular product, global distribution platform XCover, provides a seamless customer experience that offers protection against anything that could go wrong while travelling. The company surpassed 10 million policy sales through its platform in February 2022. 

We have a successful and longstanding relationship with Dawn Capital, having advised the VC fund on its investment in Fonoa, a Dublin-based digital tax automation platform, as part of its $60 million Series B funding round and its co-lead investment in Elwood Technologies' $70 million Series A funding round. 

Commenting on the deal Howard Partner, Corporate Technology partner said: "Insurtech is a rapidly evolving sector with the potential to shake up the entire industry. Dawn Capital, with its reputation for investing in high-quality businesses, has seen the potential for Cover Genius to grow exponentially and innovate. We look forward to working with Dawn Capital in the future and seeing Cover Genius' progression." 

The deal was led by partner Howard Palmer, with support from Corporate Technology senior associate Elinor Picton.