Cover Genius, the global INSURTECH infrastructure for embedded protection, has raised $100 million from Vista Credit Partners, the credit arm of Vista Equity Partners, with Morgan Stanley acting as exclusive placement agent,  at a $1.9 billion valuation, in the company’s first credit-structured capital raise following prior equity rounds from Spark Capital and others. Cover Genius connects 200+ partners with 50+ global insurance carriers to protect over 70 million end customers across travel, retail, ticketing, and logistics, with clients including Klarna, Revolut, Priceline, Agoda, Booking.com, Turkish Airlines, Uber, Amazon, and eBay, having grown revenue 50% year-over-year in 2025 and crossed $3 billion in cumulative gross written sales. The capital will fund AI hyper-personalization engines, agentic distribution infrastructure, and selective strategic acquisitions across an embedded insurance market Boston Consulting Group projects will grow from $13 billion to over $70 billion in gross written premiums by 2030.

Cover Genius Raises $100M in Capital From Vista Credit Partners