Coverwatch raises $4.5 million

Insurance broker Coverwatch has raised a $4.5 million pre-seed round led by CoFound and Restive, with participation from KFund, liquid2 ventures and others.

Founded in 2025 and based in San Francisco, Coverwatch focuses on complex commercial risk. Its clients span three markets: homeowner associations, venture-backed technology companies, and ecommerce and CPG.

Coverwatch is currently licensed in 17 states and expects to be licensed in all 48 continental U.S. states by Q3 2026. The company currently has a team of 6 and expects to roughly double headcount by the end of 2026.

“Running a business today means managing risks that evolve faster than an annual renewal cycle can keep up with – new products, new markets, new contracts, new exposures. Legacy brokers answer that complexity by going back to the same few carriers that pay the best commissions. Coverwatch is building something different: the system of intelligence for commercial insurance. Its AI continuously monitors a business and keeps coverage aligned as it grows, solicits bids from 50+ carriers for every quote, and charges a flat fee, so its incentives sit entirely with the client. It’s a great use case for AI with measurable impact, and we’re excited to be a part of it.” – Jordan Wan, Founder and General Partner at CoFound.