The round was led by SemperVirens VC with participation from SixThirty, Tribeca Early Stage Partners and Fresco Capital, as well as strategic investors Old Mutual, Asia Financial Holdings, XN Worldwide Insurance (part of the Henner Group) and Noria Capital. Existing insurtech investors also participated in the round. Caribou Honig, general partner of SemperVirens, will also be taking a board observer seat as part of the investment.
The company intends to use the funds to accelerate international expansion, develop its partner network with consulting companies and grow the sales and engineering teams in the US and Asia-Pacific.
Led by Tomas Holub, CEO and Founder, CoverGo has developed an insurance industry’s modular, no-code insurance platform powered by over 500 open insurance APIs enabling insurance companies to go digital in a flexible and scalable way. P&C, health and life insurance companies use it to build and launch all types of insurance products within days, develop omni-channel distribution, streamline policy admin and automate claims processes.
CoverGo is already working with major insurance companies such as AXA, MSIG (MS&AD Insurance Group), Dai-ichi Life and Bank of China Group Insurance, and delivery partners such as Deloitte, Accenture, IBM and Synpulse in Asia, US, Canada, Latin America, Middle East and other markets across the globe.
The company has offices in Singapore, Hong Kong, and Vietnam.