COVU raises $12.5 million
COVU, “a leader in AI-native services for insurance agencies,” announced the successful completion of $12.5 million in equity and debt financing, as part of the first tranche of its Series A funding round. This brings total funding to date to over $20 million. The funding round attracted investment from Benhamou Global Ventures, ManchesterStory, and Markd, with participation from existing and new investors.
The startup is disclosing an additional $4 million in debt and equity financing to be unlocked upon reaching key milestones.
COVU offers agencies a range of products and services such as CRM, marketing tools, and licensed support.
The funding will enable COVU to further enhance its platform, offering agencies more tools to streamline workflows, improve customer service, and scale their businesses with confidence.
“We are committed to providing insurance agencies with AI-native solutions that enhance both efficiency and trust, and now we are thrilled to partner with investors who understand the disruptive potential of AI in transforming the insurance industry. This funding enables us to double down on our investment in AI-native services and to help our agency partners scale, optimize their operations, and deliver the superior customer experiences their clients expect.” – Ali Safavi, Co-Founder and CEO of COVU.
“COVU is pioneering the future of insurance servicing by blending AI-driven insights with a human touch. COVU is a perfect example of BGV’s Enterprise 5.0 investment strategy. We believe their model is key to unlocking the next phase of growth in the industry, and we’re excited to support COVU as they lead this transformation.” – Eric Benhamou, Managing Partner at BGV.
“Insurance is ripe for disruption, and COVU’s technology and approach are perfectly positioned to take advantage of this opportunity. Their platform improves operational efficiency for insurers while dramatically enhancing the customer experience. We are proud to be part of their journey.” – Matt Kinley, Founding Partner at ManchesterStory.
“COVU’s innovative approach to combining AI with human intelligence is setting a new standard in insurance servicing. We’re excited to be part of their Series A and look forward to seeing how they continue to redefine what’s possible in the industry.” – Parker Beauchamp, Founder of Markd.
