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Extend Raises $40m to Enhance its Extended Warranty Platform

By CIOReview | Thursday, October 15, 2020

Extend receives $40 million to continue developing its extended warranty platform.

FREMONT, CA: Extend is an API-first nineteen-month-old company that has raised $40 million in a series B funding round. This company has also built new partnerships with multiple companies and organizations, namely Peloton, iRobot, Harman / JBL, Advance Auto Parts, Traeger Grills, BlendJet, SoClean, 1More, August Home, Balsam Hill, NewAir, Evolve Skateboards, and others. The series B funding round was led by Meritech Capital, while Paypal and the existing investors-Great Point Ventures and Shah Capital Partners of Extend also participated. Extend empowers the merchants to provide their customers with high quality and improved extended warranty experience, along with meeting the business margin and increasing profitability.

Extend would be using the raised funds to continue to develop, reinvent, and add new features toits proprietary and state of the art extended warranty platform. The company also envisions delighting the customers with new use cases and benefits and also revamping its business strategies, expanding its sales teams and software development workforce. Extend holds the pride of having reinvented and transfigured the customer service and experience that is associated with the extended warranties and product protection plans with the help of an innovative and fully rational solution. This solution further guides the customers and guides them through the warranties and purchases and allows them to unleash the complete benefit of the warranty schemes.

Extend offers the best in quality and user-friendly system that can be easily integrated with any retailer. The company’s software solution also provides merchants with new features that enable them to unlock fresh streams of revenue and changed business models.