Covr raises $7.5 million
Hartford-based Covr Financial Technologies announced a $7.5 million round of financing from Connecticut Innovations, Fairview Capital, Aflac Ventures and its existing investors, bringing its total funding to date to $28.3 million.
Founded in 2016, Covr is a team of 69 people. According to the company, it simplifies the insurance journey for over 25,000 financial advisors and 20 million customers of financial institutions. Their ‘digital first’ approach to life insurance, long-term care, disability income insurance and supplemental insurance products has simplified the process for financial advisors and financial institutions to offer protection products to their clients.
“Covr is pleased to add Connecticut Innovations, Fairview and Aflac Ventures to our investors. Their support will help us continue to grow and bring digitally-enabled insurance solutions to the market that make insurance simpler and more accessible. Our choice-based model provides fast, competitive and streamlined solutions tailored to the needs of financial institutions and their customers. Our next series of innovations will use enhanced AI, big data, and predictive tools to create the best journey and best product fit for our customers.” – Mike Kalen, CEO, Covr.