Covu, a Redwood City, CA-based newly formed AI-enabled digital platform for insurance agencies, raised $10m in seed funding.
The round was led by ManchesterStory Group and supported by angel and VC investors across the insurance and technology industry.
The company intends to use the funds to build and scale the platform toward its first major milestone, one billion dollars of insurance premium under contract.
Co-founded by insurance industry veterans Ali Safavi and Tasos Chatzimichailidis, and machine learning, AI and data science experts Amir Kargar and Amin Zarshenas, Covu aims to help independent insurance agents and carriers manage risk and make smart insurance decisions through AI-driven policy recommendations, business services and sales support. The company takes ownership of front and back-office tasks, giving insurance agents time to focus on strengthening customer relationships, grow their business and embrace digital operations.
FinSMEs
21/08/2022