SquareTrade

What began in 1999 as an innovative idea to resolve e-commerce disputes soon transformed into a leading provider of protection plans for consumer electronics and appliances. Co-founded by Ahmed Khaishgi and Steve Abernethy, SquareTrade initially focused on building trust in online marketplaces like eBay by offering dispute resolution services and a merchant-verification seal. Recognizing a growing need in the market, the company pivoted in 2006 to offer extended warranty services, a move that would define its future. This strategic shift quickly gained traction, and by 2012, SquareTrade secured a significant $238 million investment from Bain Capital and Bain Capital Ventures, marking the second-largest venture capital deal of that year.

This investment fueled further growth and innovation, allowing SquareTrade to expand its offerings and partnerships. The company's commitment to customer service and a hassle-free claims process resonated with consumers, leading to rapid expansion. In late 2016, Allstate, a major player in the insurance industry, acquired SquareTrade for $1.4 billion, integrating it into its suite of consumer asset protection services. Now operating as Allstate Protection Plans in the US, SquareTrade continues its mission to revolutionize the protection plan industry. With headquarters in Brisbane, California, and a significant presence in London, the company serves millions of customers globally, partnering with major retailers and mobile carriers. SquareTrade prides itself on its customer-centric approach, offering services like fully digital claims, next-day exchanges, and same-day repairs, constantly striving to enhance the customer experience and adapt to the evolving needs of the digital world.