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§ Private Profile · 440 North Wolfe Road, Sunnyvale, California, USA, 94085; 450 Lexington Ave, New York, New York, USA
No-code insurance software platform enabling insurers, MGAs, and brokers to build, launch, and administer health, life, and P&C products.
CoverGo is a software company based in Hong Kong that provides a no-code SaaS platform enabling insurance companies, banks, and brokers to build and launch health, life, and property and casualty insurance products. The enterprise platform facilitates comprehensive multichannel distribution, policy administration, and claims processing through artificial intelligence-driven workflow automation and intelligent document processing. Operating across three continents, the venture-funded enterprise has raised $15 million in total funding across a single round and generates approximately $25.2 million in reported revenue with a workforce of roughly 120 employees. The company serves a global client base of insurers and managing general agents, securing enterprise contracts with notable customers like AXA Hong Kong and AXA Macau while receiving industry recognition from FinTech Global. CoverGo was originally founded in 2017 by current chief executive officer Tomas Holub.
CoverGo has raised $15.0M across 1 funding round.
CoverGo has raised $15.0M in total across 1 funding round.
CoverGo has raised $15.0M in total across 1 funding round.
CoverGo's investors include SemperVirens Venture Capital, Cometa, Techstars, Eduardo Mufarej, Felipe Villamarin, Jeronimo Uribe, Simon Borrero, Asia Financial Holdings, Fresco Capital, Rakan Abunayyan, Old Mutual, SixThirty.
CoverGo has raised $15.0M across 1 funding round. Most recently, it raised $15.0M Series A in May 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 1, 2022 | $15M Series A | Sempervirens Venture Capital | Cometa, Techstars, Eduardo Mufarej, Felipe Villamarin, Jeronimo Uribe, Simon Borrero, Asia Financial Holdings, Fresco Capital, Rakan Abunayyan, OLD Mutual, SixThirty, Tribeca Early Stage Partners, XN Worldwide Insurance | Announced |
CoverGo is a leading global insurtech company that builds a modular, no-code, API-first insurance platform for health, life, and property & casualty (P&C) insurance.[1][2][4] It serves insurers, carriers, MGAs, banks, and other stakeholders worldwide, enabling them to rapidly build, configure, launch, and manage insurance products without coding, while automating policy administration, claims, and omni-channel distribution to cut costs and improve customer experiences.[1][2][3][4] The platform solves core industry pain points like slow custom IT development, inflexible off-the-shelf software, and paperwork-heavy processes, with strong growth including over 400% subscription revenue increase since 2021 and 30+ clients across three continents.[3]
CoverGo was founded in 2017 by CEO Tomas Holub in Hong Kong, driven by his personal frustration with the insurance industry's complexity after his father's policy lapsed during a mortgage repayment claim, forcing him through excessive paperwork amid grief.[2][5] With over 500 years of collective team experience in insurtech and enterprise software, the company started as Asia's no-code leader, initially focusing on group medical insurance platforms and expanding modularly with 500+ open insurance APIs.[2][5] Early traction came from clients like MSIG, who used it to slash claims adjudication costs, speed product configuration, and boost efficiency; accelerators like F10 provided market insights and introductions, fueling global scaling to offices in Silicon Valley, New York, Dubai, Singapore, and Hong Kong.[2][3][5]
CoverGo rides the insurtech digitization wave in the $6.3 trillion global insurance market, where no-code/low-code tools are projected to drive over 65% of application development by 2024, addressing legacy systems' rigidity amid rising demands for agility and personalization.[3] Perfect timing stems from post-pandemic acceleration in digital insurance, enabling faster adaptation to high-tech ecosystems via API integrations and omni-channel sales.[1][3] Market forces like custom IT's high costs and off-the-shelf inflexibility favor CoverGo's configurable model, influencing the ecosystem by empowering insurers (e.g., American firms, MSIG) to scale digitally, reduce ops costs, and deliver seamless customer experiences, positioning it against competitors like Socotra and INSTANDA.[3][4][5]
CoverGo is primed for accelerated global expansion, building on Americas entry, strategic partnerships like DP88 for funding/investor access, and equity rounds to capture no-code insurtech demand.[3] Trends like AI-driven personalization, embedded insurance, and regulatory pushes for digital accessibility will shape its path, potentially growing its 30+ client base amid modular platform evolution.[2][3] Its influence may evolve from Asia's leader to a dominant enterprise player, transforming how insurers stay agile—echoing its mission to make insurance 100% digital for all, just as Tomas Holub envisioned from personal hardship.[2][5]