Upcover raises $19 million

Australian business insurance startup Upcover has raised $11 million in Series a funding led by RealVC, with support from Antler Elevate, BetterLabs, and Gandel Invest. The startup also secured $8 million in debt from Marshall Investments.

Founded in 2019, the digital broker offers business insurance for Australia’s 2.4+ million small businesses and independent contractors.

The startup offers coverage online and it also has an embedded insurance solution for partners. Since launching in 2021, Upcover has partnered with more than 20 global and local insurers and underwriters, and assisted 60,000+ SMBs, startups and scale-ups with business insurance.

This latest round gives Upcover a $45 million valuation.