Coverdash raises $2.5 million
Business insurance startup Coverdash announced its official launch and the closing of a $2.5 million seed round led by Bling Capital, with participation from AXIS Digital Ventures, Tokio Marine Future Fund (in affiliation with World Innovation Lab), Expansion VC, Cameron Ventures, and several angel investors.
Founded in 2022 and based in NYC, Coverdash targets freelancers, ecommerce merchants, and other small business owners with a variety of coverages including workers’ comp, BOP, general liability, professional liability, and cyber. The startup claims that its digital insurance experience enables business owners to quote, bind, pay for, and actively manage insurance policies in a matter of seconds. Coverdash also has an embedded insurance proposition.
“Insurtech 2.0 is here, marking the next phase of the embedded fintech revolution. We have created a frictionless transactional experience that is unseen within the insurance landscape. Our mission is to empower partners with these capabilities and help finally make insurance accessible and simple for business owners across the nation.” – Ralph Betesh, co-founder and CEO of Coverdash.
“The development and adoption of commercial insurance APIs within the insurtech industry has reached a tipping point, enabling innovative companies with the opportunity to drive true growth and transformation. We view Coverdash as the future of business insurance and embedded distribution. We’re excited to stand alongside the team and support them as they move forward on this journey.” – Ben Ling, founder and general partner at Bling Capital.