CoverGo is a technology company.
CoverGo has raised $15.0M across 1 funding round.
CoverGo has raised $15.0M in total across 1 funding round.
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]
CoverGo has raised $15.0M in total across 1 funding round.
CoverGo's investors include Cometa, SemperVirens Venture Capital, Techstars, Eduardo Mufarej, Felipe Villamarin, Jeronimo Uribe, Simon Borrero.
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 |
|---|---|---|---|
| May 1, 2022 | $15.0M Series A | Cometa, SemperVirens Venture Capital, Techstars, Eduardo Mufarej, Felipe Villamarin, Jeronimo Uribe, Simon Borrero |