As part of the investment, Insight Partners Vice President Sophie Beshar will join CoverForce’s board of directors.

The fresh capital will fuel CoverForce’s expansion, enabling the company to enhance its platform capabilities, onboard more carriers and distributors, and integrate AI-powered tools to streamline insurance workflows. A key focus will be strengthening its quote-and-bind API connections, facilitating seamless digital interactions between insurance carriers, agencies, and wholesalers.

CoverForce is also actively collaborating with insurers that prioritize digital innovation, reinforcing its commitment to modernizing the insurance industry through advanced technology and automation.

CoverForce CEO and co-founder Cyrus Karai stated: “We are thrilled to have Insight Partners on board with our Series A. This funding will help us expand our engineering capabilities and build deeper relationships in the market. In particular, we are seeking to partner with carriers who are empowering their agents with cutting-edge, digital tools – essentially those who are making an investment in speed as a key element of winning.” 

CoverForce CTO and co-founder Kaivan Wadia said: “The insurance market is built on a legacy of paper and PDF – a huge issue in a market worth more than $960bn. CoverForce delivers a unified API infrastructure that decreases the time to integrate from months to weeks, saving our partners millions of dollars in R&D [research and development] costs.”