Following the recent run on P&C, health and life insurance companies and insurtechs adopting their no-code SaaS insurance platform, Singapore-based CoverGo has secured $15m in series A funding. The funding round was led by California-based SemperVirens VC, with participation from US venture capital firms SixThirty, Tribeca Early Stage Partners and Fresco Capital. Given this funding is earmarked to help fuel its global expansion, it seems only fitting that strategic investors included Pan-African insurance group Old Mutual, Asia-based insurance group Asia Financial Holdings, US-based XB Worldwide Insurance, and Middle East and Africa insurance fund Noria Capital. 

In discussing the funding, Caribou Honig, general partner of SemperVirens and founder of ITC stated, “There are only a handful of technologies that are significantly transforming the insurance industry, and no-code is clearly on the shortlist. As carriers lean into enabling innovation, CoverGo is uniquely positioned to accelerate their digital transformation and drive efficiencies across the insurance value chain. CoverGo’s next-generation platform is providing carriers an unbeatable mix of speed to market, cost savings and security to succeed both now and in the future. We are excited to support CoverGo on its growth journey and expansion in the US market.”

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