The latest funding round was led by Benhamou Global Ventures, which had also spearheaded COVU’s initial Series A raise. True Global Ventures joined as a new investor in this round. This builds on COVU’s previous $12.5 million Series A announced last year.
With the additional capital, COVU plans to enhance its AI-native roll-up and marketplace business, strengthen automation capabilities, and deepen partnerships across the insurance ecosystem. Initially structured as “milestone-based financing,” the round was expanded to $10 million and ultimately oversubscribed, bringing the company’s total funding to $32 million.
Beyond equity financing, COVU has also secured access to venture debt and is targeting an additional $30 million in debt financing to further bolster its platform.
The company has reported a three- to fourfold growth over the past year, driven by the introduction of its AI-powered solutions. Notably, one in three customer cases is now resolved without human intervention.
“We believe the future of insurance lies in the collaboration between AI and human expertise,” said COVU CEO and co-founder Ali Safavi. “Insurance is not just about transactions—it is about trust, protection, and high-quality service. AI enhances efficiency, but licensed professionals provide the expertise and relationships that clients rely on. This funding allows us to scale our mission of delivering seamless, AI-powered insurance servicing that empowers agencies rather than displacing them.”
COVU combines intelligent automation with human expertise to help agencies, brokers, and financial institutions improve risk management and customer retention.
