, Hong Kong

CoverGo raises $15m in new funding round

The round was led by SemperVirens VC.

Insurtech firm CoverGo has raised $15m in a Series A funding round led by California-based SemperVirens VC with participation from US venture capital firms SixThirty, Tribeca Early Stage Partners and Fresco Capital. 

The round also saw participation from existing investors as well as some strategic investors including pan-African insurance group Old Mutual, Asia-based insurance group Asia Financial Holdings, US-based XN Worldwide Insurance (part of the Henner Group) and Middle East and African insurance fund Noria Capital.

In addition to participating in the funding round, Caribou Honig, general partner of SemperVirens will also be taking a board observer seat as part of the investment.

CoverGo plans to use the new investment to accelerate its international expansion, develop its partner network with consulting companies, and grow its sales and engineering teams particularly in the US and Asia Pacific.

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