Post by habibkhan11 on Feb 14, 2024 3:54:45 GMT
Covergo's Series A funding round Highlights the company's rapid growth and success. Annual recurring revenue from software has increased more than 10 times since January 2021. CoverGo, the codeless SAAS insurance platform for leading global enterprises, today announced that The company raised $15 million in Series A funding led by California-based SemperVirens VC. along with SixThirty, Tribeca Early Stage Partners and US venture capital firm Fresco Capital. Strategic investors include African insurance company Old Mutual, Asia Financial Holdings, an Asian insurance company, and XN Worldwide. XN Worldwide Insurance, a subsidiary of Henner Group of the United States, and Noria Capital, a Middle East and Africa insurance fund. As for current Insurtech investors, they also participated in this round of fundraising, raising more than the amount set. Caribou Honig.
General Partner of Sempervirens Known as the Godfather of InsureTech Austria Telemarketing Data and founder of InsureTech Connect, the world's largest insurtech conference. will also serve as a committee observer as part of this investment. Property and miscellaneous (P&C), health and life insurance companies including emerging insurtech companies More and more people are turning to Covergo's platform to build and launch any type of insurance product within days. Develop the distribution of all channels Improve policy administration to be efficient. and automating the claims process. As a result, Covergo's annual recurring revenue has increased more than 10 times since January 2021. Covergo already works with major insurance companies such as AXA, MSIG or MS&AD Insurance Group. Dai-ichi Life and Bank of China Group Insurance, as well as delivery partners such as Deloitte, Accenture, IBM and Synpulse in Asia, the U.S., Canada, Latin America, the Middle East and other global markets. This new investment will help accelerate Covergo's international expansion. Develop a network of partners with consulting companies.
And growing our sales and engineering teams in the US and Asia Pacific. To meet the increasing demand for Covergo's platform “Few technologies have significantly transformed the insurance industry. and no-code technology is one of them,” said Caribou Honig. “As service providers turn to innovation Covergo is uniquely positioned to accelerate digital transformation and drive efficiencies across the insurance value chain. Covergo's next-generation platform helps service providers gain speed to market. cost saving and unrivaled safety To be successful both now and in the future We are excited to support Covergo on its growth journey and expansion into the US market.” “Insurance companies are realizing that custom IT development is currently too slow and expensive. Meanwhile, off-the-shelf software packages are unable to keep up with changing product needs and customer demands. This is why we are seeing a surge in global demand for platforms that truly configure without writing code. It helps companies stay agile and keep pace with a changing world,” said Tomas Holub, CEO and Founder of Covergo. “This new round of funding and the unique investor composition Strategic Insurance It will help accelerate the adoption of CoverGo by insurance companies around the world.
General Partner of Sempervirens Known as the Godfather of InsureTech Austria Telemarketing Data and founder of InsureTech Connect, the world's largest insurtech conference. will also serve as a committee observer as part of this investment. Property and miscellaneous (P&C), health and life insurance companies including emerging insurtech companies More and more people are turning to Covergo's platform to build and launch any type of insurance product within days. Develop the distribution of all channels Improve policy administration to be efficient. and automating the claims process. As a result, Covergo's annual recurring revenue has increased more than 10 times since January 2021. Covergo already works with major insurance companies such as AXA, MSIG or MS&AD Insurance Group. Dai-ichi Life and Bank of China Group Insurance, as well as delivery partners such as Deloitte, Accenture, IBM and Synpulse in Asia, the U.S., Canada, Latin America, the Middle East and other global markets. This new investment will help accelerate Covergo's international expansion. Develop a network of partners with consulting companies.
And growing our sales and engineering teams in the US and Asia Pacific. To meet the increasing demand for Covergo's platform “Few technologies have significantly transformed the insurance industry. and no-code technology is one of them,” said Caribou Honig. “As service providers turn to innovation Covergo is uniquely positioned to accelerate digital transformation and drive efficiencies across the insurance value chain. Covergo's next-generation platform helps service providers gain speed to market. cost saving and unrivaled safety To be successful both now and in the future We are excited to support Covergo on its growth journey and expansion into the US market.” “Insurance companies are realizing that custom IT development is currently too slow and expensive. Meanwhile, off-the-shelf software packages are unable to keep up with changing product needs and customer demands. This is why we are seeing a surge in global demand for platforms that truly configure without writing code. It helps companies stay agile and keep pace with a changing world,” said Tomas Holub, CEO and Founder of Covergo. “This new round of funding and the unique investor composition Strategic Insurance It will help accelerate the adoption of CoverGo by insurance companies around the world.