Morgan Stanley Expansion Capital Invests $40M Growth Equity in Cover Whale
July 28, 2025
Morgan Stanley Expansion Capital provided $40 million in growth equity to Cover Whale Insurance Solutions to accelerate investments in its technology platform, analytics, and product expansion. The financing converts Morgan Stanley's prior structured debt into an equity partnership as Cover Whale scales its telematics-driven commercial auto insurance MGA, which reported $133 million in gross written premiums year-to-date and is on track for $277 million for the full year.
- Buyers
- Morgan Stanley Expansion Capital
- Targets
- Cover Whale Insurance Solutions, Inc.
- Industry
- Insurance
- Location
- New York, United States
- Transaction Type
- Growth capital
Explore More
Related Acquisitions
-
Morgan Stanley Expansion Capital Invests $27.5M in Cover Whale
May 22, 2024
Financial Services
Morgan Stanley Expansion Capital provided $27.5 million of debt and equity financing to Cover Whale Insurance Solutions to support the insurtech's growth and technology investments. The capital — which also included conversion of existing debt investors into Series A preferred — will help Cover Whale scale its connected commercial auto insurance platform serving trucking fleets and insurance agents.
-
Morgan Stanley Expansion Capital Invests $24M in ValGenesis
May 4, 2021
Cloud & SaaS
Morgan Stanley Expansion Capital has made a $24 million growth investment in ValGenesis, a provider of cloud-based validation lifecycle management (VLMS) software for the life sciences. Proceeds will bolster sales, accelerate product innovation in digital validation technologies, and support global deployment.
-
NMS Capital Group Acquires Get Cover Technologies
November 18, 2025
Insurance
NMS Capital Group, the Saliba family office-backed private equity firm, has acquired Get Cover Technologies, the parent company of Get Cover, a Los Angeles-based insurtech that provides cloud-based warranty and service contract solutions. The deal positions NMS to expand its presence in technology-enabled insurance while enabling Get Cover to scale its platform across B2B, B2C and education channels and accelerate product rollout and customer growth.
-
Morgan Stanley Expansion Capital Invests in Gozio Health
March 31, 2022
Healthcare Services
Gozio Health, a location-aware mobile patient engagement platform based in Atlanta, closed a growth investment from funds managed by Morgan Stanley Expansion Capital. The growth equity investment will be used to accelerate Gozio’s commercial expansion, grow client services and engineering teams, and advance the extensibility of its digital health platform.
-
Bain Capital Insurance Invests in 1970 Group
July 29, 2024
Insurance
1970 Group, a specialist provider of insurance collateral funding and risk-financing solutions, received a growth capital investment from Bain Capital Insurance to support expansion of its liquidity management offerings. Financial terms were not disclosed; the investment is intended to help 1970 Group scale its insurance collateral model across the United States and Canada.
-
Investcorp, Goldman Sachs and Others Back InsuranceDekho with $150M Growth Round
February 14, 2023
Financial Services
Investcorp, alongside lead investors Goldman Sachs and TVS Capital and other institutional backers including LeapFrog, participated in a $150 million growth capital financing for InsuranceDekho. The funding will be used to scale the company's distribution network, expand its MSME insurance business and continue development of its technology platform and product suite across India.
Track M&A activity that matters to you
Get real-time deal alerts, build buyer lists with AI, and access our full acquisition database. Start your free trial today.