CoverGo raises $6 million

CoverGo raised $6 million in the initial close of its Series B1 funding round, led by Betatron Venture Group, with participation from existing and new investors. The round brings its total funding to more than $30 million.

The company provides software for health, life and P&C insurers to build and distribute products, manage policies and process claims. It also offers AI agents for document processing, sales and quoting.

CoverGo said revenue has grown tenfold since its 2022 Series A and that it has reached EBITDA breakeven. It serves 25 institutional clients across 15 countries, with customers including AXA, Bupa, Generali, Sun Life, Prudential, Blue Cross, MSIG and Marsh.

The funding will support further AI development and international sales expansion as CoverGo seeks to help insurers modernize and replace their core systems.