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AI-driven insurtech COVU raised $12.5 mn in Series A funding

AI-driven insurtech COVU raised $12.5 mn in Series A funding

AI-driven insurtech COVU has raised $12.5 mn through equity and debt financing in its first Series A funding round led by Benhamou Global Ventures (BGV), ManchesterStory, and Markd, with new and existing investors participating.

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.

This funding brings COVU’s total funding to over $20 mn, with an additional $4 mn available upon reaching specific milestones.

San Francisco-based insurtech platform COVU designed to streamline insurance agency operations. Founded by a team of industry veterans, including Ali Safavi and Tasos Chatzimichailidis, the company launched in 2022 with the goal of helping insurance professionals manage risk more effectively and optimize business processes.

COVU offers AI-powered products and services, including CRM, marketing tools, and licensed support for insurance agencies. The new capital will help the company enhance its platform, improving workflows, customer service, and overall business growth for agencies.

AI-driven insurtech COVU raised $12.5 mn in Series A funding

Eric Benhamou, Managing Partner at BGV, highlighted COVU’s role in the industry’s evolution, noting that their AI-driven approach, combined with a human element, positions them for growth. He expressed excitement about supporting the company in this transformative journey.

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

Ali Safavi, COVU’s Co-Founder and CEO

“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 said.

“Insurance is ready for disruption, and COVU’s technology perfectly fits this opportunity. Their platform significantly enhances operational efficiency for insurers while improving the customer experience,” Matt Kinley, Founding Partner at ManchesterStory, noted.

COVU is redefining how agencies manage client relationships by combining AI technology with human insights. This approach not only improves operational efficiency but also ensures personalized service for end customers—boosting retention, growing revenues, and fostering trust in the increasingly competitive insurance market.

COVU’s goal with this funding is to help agencies scale more effectively, using AI to improve efficiency and deliver better customer service.

COVU’s AI-powered tools enhance operational efficiency by automating routine tasks and providing real-time data insights, improving customer service and helping agencies scale their businesses.

Peter Sonner  by Peter Sonner