Trov, a startup that insures individual items like laptops and digital cameras, is headed to the U.S. The San Francisco-based company, which currently operates in Australia and the U.K., said today that it has raised $45 million in Series D funding with the goal of expanding around the world.
"Trov is a modern way to protect your things," founder and CEO Scott Walchek, via phone from Sand Hill Road, tells Fast Company. He points to the "arcane" warranty practices that typically surround consumer electronics as Trov's first target. To acquire customers, the company plans to partner with retailers and manufacturers.
Munich Re / HSB Ventures led the round, with Trov's Series C investors and Japanese insurer Sompo Holdings also participating. Munich Re will also serve as underwriting partner in Trov's new geographies.