CoverGo, an AI-native InsurTech platform supporting health, life and property and casualty (P&C) insurers, has raised $6 million in the first close of its Series B1 funding round. The investment will support the company’s plans to accelerate the global expansion of its technology.
The funding round was led by Betatron Venture Group (BVG), with participation from both existing and new investors. BVG invests in B2B technology companies transforming established industries, including insurance. With this latest investment, CoverGo’s total funding has surpassed $30 million.
The company will use the new capital to further develop its AI-native insurance capabilities and expand its go-to-market operations. Its strategy focuses on helping insurers modernise and replace legacy core systems while implementing AI agent-powered automation across their operations.
Since completing its Series A funding round in 2022, CoverGo has reported a tenfold increase in revenue and reached EBITDA breakeven. The platform currently serves 25 institutional clients across 15 countries in the Americas, Asia, Europe, the Middle East and Africa.
Its customer base includes established insurance organisations such as AXA, Bupa, Generali, Sun Life, Prudential, Blue Cross, MSIG and Marsh.
CoverGo aims to provide insurers with a flexible, scalable and cost-efficient platform for digital transformation. Its AI agents support automation across different stages of the insurance value chain, including omnichannel distribution, policy servicing and claims management. The platform is increasingly being adopted by insurers seeking to digitise operations and improve business processes.
