Cover Whale Insurance Solutions, Inc., a leading insurtech company specializing in commercial auto insurance, has announced a $40 million growth equity investment from Morgan Stanley Expansion Capital. This funding will be used to enhance Cover Whale's technology platform, analytics, and expand its product offerings to drive further growth and profitability. The investment marks a transition for Morgan Stanley from a lender to an equity partner, reflecting their strong confidence in Cover Whale's business strategy and leadership. Cover Whale, founded in 2020, is on track to achieve a full-year target of $277 million in gross written premiums for 2025, demonstrating significant growth in the commercial trucking insurance market.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.