Tuesday, January 24, 2023
HomeInsurance LawCoverdash launches US operations with seed funding

Coverdash launches US operations with seed funding

Insurtech startup Coverdash has closed a seed funding spherical and launched its operations within the US.

The seed spherical was led by Bling Capital, with participation from AXIS Digital Ventures, Tokio Marine Future Fund (affiliated with World Innovation Lab), Growth VC, and Cameron Ventures, amongst others.

A number of angel buyers together with MidOcean Companions president Steve Shenfeld, CRC Insurance coverage president Garret Koehn and Vantage Threat CEO Greg Hendrick additionally joined the spherical. 

Coverdash will use the proceeds to help its growth and improvement through product innovation, go-to-market methods, and hiring. 

The New York Metropolis-based firm caters to e-commerce distributors, gig employees, and different enterprise homeowners by making it simpler for them to purchase and handle enterprise insurance coverage.

Coverdash co-founder and CEO Ralph Betesh mentioned: “We’ve got created a frictionless transactional expertise that’s unseen inside the insurance coverage panorama. Our mission is to empower companions with these capabilities and assist lastly make insurance coverage accessible and easy for enterprise homeowners throughout the nation.”

Its industrial insurance coverage merchandise portfolio contains a variety of choices akin to legal responsibility, property, employees’ compensation, and cyber.

Utilizing Coverdash, enterprise homeowners can quote, bind, pay for, and handle insurance coverage insurance policies. 

Coverdash additionally permits its companions akin to lenders and brokers to supply insurance coverage utilizing its embedded expertise. 

Bling Capital founder and basic accomplice Ben Ling mentioned: “The event and adoption of business insurance coverage APIs inside the insurtech trade have reached a tipping level, enabling progressive corporations with the chance to drive true progress and transformation. 

“We view Coverdash as the way forward for enterprise insurance coverage and embedded distribution. We’re excited to face alongside the group and help them as they transfer ahead on this journey.”



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