Morgan Stanley completed a $40m investment in Cover Whale.

Morgan Stanley Expansion Capital, a private equity firm, completed a $40m investment in Cover Whale, an insutech services company. “After years of rapid growth, 2024 marked a pivotal year for Cover Whale as we focused on re-building our foundation. We invested in our technology platform, built a high-performing service organization, and refined our pricing, underwriting and loss control programs. Morgan Stanley Expansion Capital's transition from lender to equity partner is a gratifying affirmation of the tremendous progress made over the past few years, and their renewed backing gives us the resources to fully capitalize on the significant growth opportunities ahead,” Dan Abrahamsen, Cover Whale Founder and CEO.