Clearcover Insurance closes Series C funding with $50 million raised

Clearcover, a California-based insurtech, has closed $50 million in Series C funding. A release said that the funding round was led by OMERS Ventures, with Michael Yang, managing partner, joining Clearcover’s board. Previous investors – which include American Family Ventures, Cox Enterprises and IA Capital Group ��� also participated in the round. Clearcover will use the funding to continue building the machine learning technology it utilizes to offer customized auto insurance coverage to customers. The new capital will also be used to accelerate the company’s growth in new states, as well as integrating additional distribution channels in the automotive and financial services space.