Cover Genius is an insurtech company focused on embedded insurance and protection products for digital platforms. It integrates coverage into customer journeys for global online businesses, which may be relevant to investors assessing the embedded-finance and insurance-tech market.
Access to pre-IPO shares is available to accredited investors through UpMarket.
Latest Price
Previous Price
$656M
Series D Nov 2022
How to Invest in Cover Genius Through UpMarket
Cover Genius shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available Cover Genius offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
$1.3B+
UpMarket has brokered over $1.3 billion in alternative investments*
*Includes principal invested and appreciation of investments originated via the UpMarket platform based on historical trade volume and valuation estimates through March 31, 2026. Of the total, approximately $301 million is managed by UpMarket Management, with the remaining originated investments managed by affiliates. Past performance is not predictive of future results.
Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
2024
Series E
Nov 2022
Series D
$656M
Why Investors Are Watching Cover Genius
Growth Signal
Cover Genius said 2023 revenue grew 107% and NRR hit 145%
The company said it achieved 107% year-on-year growth in 2023 while maintaining 145% net revenue retention. It also raised $80M in Series E funding, with Spark Capital leading the round and existing backers participating.
Competitive Moat
xCover lets merchants embed insurance at checkout via API
Cover Genius says its xCover platform lets digital merchants offer insurance and protection at the point of sale using a single API. The company serves embedded protection use cases across e-commerce, travel, mobility, and logistics.
Market Opportunity
Embedded insurance market seen reaching $700B by 2030
AlleyWatch reported the embedded insurance market is forecast to reach $700B annually by 2030. Cover Genius said the funding brings total capital raised to $245M as it targets that category expansion.
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No. As of March 2026, Cover Genius is a private company and does not trade on any public stock exchange. Accredited investors can access Cover Genius shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Cover Genius does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Cover Genius shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered more than $500M in alternative investments since 2019.
Pre-IPO investments carry significant risks. Cover Genius shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
Cover Genius embeds insurance and protection products into digital customer journeys, and said 2023 revenue grew 107% with NRR at 145%, signaling strong platform expansion across online distribution partners — accredited investors can access Cover Genius stock through UpMarket.