Clyde, which offers extended warranties and accident protection, has secured $14m in its Series A round to support its growth in the market.
The equity injection was led by Spark Capital, with participation also coming from Crosslink, RRE, Red Sea Ventures, Abstract Ventures, Starting Line Capital, Correlation Ventures, Jackson Gates, Brian Sugar and more.
It will use the fresh funds to extend its capabilities and further help customers protect their products.
Clyde aims to reshape the warranty market in both accessibility for retailers and value for consumers, by giving retailers the ability to extend warranties. Through Clyde, more than 150 retailers are offering warranties to protect items from sunglasses and headphones through to snowboards and telescopes.
The company offers an open marketplace for insurance administrators and obligors to provide protection for a range of items. Policies can cover items from wear and tear, power surges and accidental damage.
Earlier in the year, Spark Capital led a $10m investment into residential appraisal software provider Reggora. The company builds appraisal technology which brings mortgage lenders and appraisal vendors on to a single platform.
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