Add-on Acquisition • Information Technology

Cover Genius Acquires Clyde

On March 14, 2023, Cover Genius acquired information technology company Clyde from Crosslink Capital

Acquisition Context
  • This is Cover Genius’ 1st transaction in the Information Technology sector.
  • This is Cover Genius’ 1st transaction in the United States.
  • This is Cover Genius’ 1st transaction in New York.

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M&A Deal Summary

Date March 14, 2023
Target Clyde
Sector Information Technology
Buyer(s) Cover Genius
Sellers(s) Crosslink Capital
Deal Type Add-on Acquisition

Target Company

Clyde

New York, New York, United States
Clyde is an extended warranty startup that wants to help small e-commerce businesses offer product protection. Clyde was founded in 2017 and is based in New York City.
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Buyer Overview 1

Buyer

Cover Genius

New York, New York, United States

Category Company
Founded 2014
Sector Insurance
DESCRIPTION

Cover Genius is an insurtech for embedded insurance that protects the global customers of the world’s largest digital companies including Booking Holdings, owner of Priceline, Kayak and Booking.com, Intuit, Hopper, Skyscanner, Ryanair and Descartes ShipRush. Cover Genius was founded in 2014 and is based in New York City.


Deal Context for Buyer #
Overall 2 of 2
Sector: Information Technology 1 of 1
Type: Add-on Acquisition 2 of 2
State: New York 1 of 1
Country: United States 1 of 1
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-25 Booking Protect

Leeds, United Kingdom

Booking Protect is a global refund protection specialist, protecting bookings of any size, anywhere in the world. The market leading technology created by Booking Protect, offers some of the most comprehensive cover for customers & generates additional revenue for sales partners. Booking Protect was founded in 2014 and is based in Leeds, England.

Buy -

Seller Profile 1

SELLER

Crosslink Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1989
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Crosslink Capital is a growth-oriented investment firm focused on technology companies. Crosslink's typically invests in early-stage companies, however, the Firm will consider opportunities at every stage, from seed to pre-IPO to PIPE offerings. Sectors of interest include communications/infrastructure services, core technology, semiconductors, internet, and software. Crosslink Capital is based in San Francisco, California.


Deal Context for Seller #
Overall 60 of 62
Sector: Information Technology 14 of 14
Type: Add-on Acquisition 43 of 44
State: New York 3 of 3
Country: United States 59 of 61
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-04 Descartes Labs

New York, New York, United States

Descartes Labs offers customers an accelerated ability to address operational needs by transforming the world's data into actionable and predictive insights that impact climate change, sustainability, and food security, and safeguard natural resources at the speed of relevance. Descartes Labs was founded in 2014 and is based in New York City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-29 Qualiti

Lehi, Utah, United States

Qualiti is an AI-driven test automation solution providing state-of-the-art testing solutions to businesses worldwide. Qualiti is based in Lehi, Utah.

Buy -