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.
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