COVU – a leader in AI-native services for insurance agencies – announced the completion of $12.5 million in equity and debt financing as part of the first tranche of its Series A funding round. This brings the total funding to date to over $20 million.
This funding round attracted investment from prominent investors, including Benhamou Global Ventures, ManchesterStory, and Markd. Participation from existing and new investors showed strong backing for COVU’s mission to empower insurance agencies with cutting-edge technology and support.
This funding round signals a new chapter for insurance agencies seeking to elevate their services. And with an additional $4 million in debt and equity financing to be unlocked upon reaching key milestones, COVU is committed to helping agency partners overcome operational challenges and strengthen customer relationships.
COVU aims to combine cutting-edge AI technology with human support, creating a seamless customer experience that will revolutionize the insurance sector. This funding round will advance the expansion of COVU’s operations, drive further innovation on its platform, and accelerate growth across key markets.
COVU is transforming how agencies manage client relationships by combining AI technology with human insights. This approach improves operational efficiency and ensures personalized service for end customers, boosting retention, growing revenues, and fostering trust in the increasingly competitive insurance market.
The funding round will enable COVU to enhance its platform further, offering agencies more tools to streamline workflows, improve customer service, and confidently scale their businesses.
KEY QUOTES:
“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. 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, Co-Founder and CEO of COVU
“COVU is pioneering the future of insurance servicing by blending AI-driven insights with a human touch. COVU is a perfect example of BGV’s Enterprise 5.0 investment strategy. We believe their model is key to unlocking the next phase of growth in the industry, and we’re excited to support COVU as they lead this transformation.”
-Eric Benhamou, Managing Partner at BGV
“Insurance is ripe for disruption, and COVU’s technology and approach are perfectly positioned to take advantage of this opportunity. Their platform improves operational efficiency for insurers while dramatically enhancing the customer experience. We are proud to be part of their journey.”
-Matt Kinley, Founding Partner at ManchesterStory
“COVU’s innovative approach to combining AI with human intelligence is setting a new standard in insurance servicing. We’re excited to be part of their Series A and look forward to seeing how they continue to redefine what’s possible in the industry.”
-Parker Beauchamp, Founder of Markd
