The real product here is almost certainly an analytics service. From Cover's privacy policy at https://www.coverscreen.com/privacy:
Cover records the following items:
The list of apps installed on your phone, including which apps are
on your homescreen and dock
The number of times you run an app, including the time and place
where you ran it (specifically, the cell tower or wifi network you
were connected to, or that you were located within a geographic area
you identified such as home or work)
The number of times you turn on your phone (i.e. view your Cover
lockscreen), and what you do subsequently: launch an app, slide open
the cover, or simply turn the screen back off (e.g. just glance at
the clock).
Information from connected Bluetooth devices, such as the Bluetooth
device ID of your car.
Information from the sensors in your phone, such as the
accelerometer, gyroscope, and GPS (though GPS is used exceptionally
sparingly in order to save your battery).
The system starts to collect data as soon as you install Cover. The
data collection continues until you remove Cover from your phone.
The data is uploaded from your phone over a secured connection to
our servers.