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Business-Focused Insurtech Coverdash Announces Launch After Oversubscribed Seed Round

Coverdash

Company
Business-Focused Insurtech Coverdash Announces Launch After Oversubscribed Seed Round

New York, NY- January 23, 2023 - Coverdash, a fully-digital business insurance startup providing simplified insurance solutions to businesses of all shapes and sizes, is pleased to announce the company's official launch and the closing of an oversubscribed seed funding round.

Based in New York City, Coverdash simplifies the process of buying and managing business insurance for e-commerce merchants, gig workers, and all other types of businessowners. The company offers a broad range of commercial insurance products, including liability, property, workers' compensation, and cyber. Coverdash's digital insurance experience enables businessowners to quote, bind, pay for, and actively manage insurance policies in a matter of seconds. Through relationships with many of the world's most recognized insurers, Coverdash provides the coverages growing businesses need at the most affordable rates.

Coverdash's embedded technology enables partners to easily offer insurance to existing customers with a single line of code. Integration is straightforward, requiring no extensive engineering resources or implementation. Coverdash's network of embedded partners include leading online market places, service providers, PEOs, lenders, brokers, and various other platforms who serve or transact with businesses nationwide.

Coverdash's simplified insurance experience gives customers instant access to their own personalized dashboard to manage, monitor and control their insurance coverages.

"Insurtech 2.0 is here, making the next phase of the embedded fintech revolution," said Ralph Betesh, co-founder and CEO of Coverdash, "We have created a frictionless transactional experience that is unseen within the insurance landscape. Our mission is to empower partners with these capabilities and help finally make insurance accessible and simple for business owners across the nation."

Coverdash's funding round was led by Bling Capital, with participation from other notable investors, including AXIS Digital Ventures, Tokio Marine Future Fund (in affiliation with World Innovation Lab), Expansion VC, and Cameron Ventures. Multiple strategic angel investors also contributed to the round, including Greg Hendrick, CEO of Vantage Risk; Garret Koehn, president of CRC Insurance; and Steve Shenfeld, president of MidOcean Partners.

"The development and adoption of commercial insurance APIs within the insurtech industry has reached a tipping point, enabling innovative companies with the opportunity to drive true growth and transformation," said Ben Ling, founder and general partner at Bling Capital. "We view Coverdash as the future of business insurance and embedded distribution. We're excited to stand alongside the team and support them as they move forward on this journey."

This funding round will contribute to Coverdash's ongoing expansion and development through increased product innovation, go-to-market initiatives, and strategic hiring.

About Coverdash

Coverdash is a fully digital, business insurance agency that specializes in serving the insurance needs of businesses of all shapes and sizes. Coverdash's embedded technology enables any partner to host its end-to-end insurance experince with a single line of code. Coverdash is headquarted in New York and is a licensed insurance agency across all 50 states. For more information please visit LinkedIn, Instagram, Twitter or check out www.coverdash.com.

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“Outstanding experience all around. They were thoughtful, efficient, and delivered exactly what I needed for my company’s insurance and no upselling, just straightforward guidance. Would absolutely work with him again.”

Patrick S.

“I found them while searching for new commercial insurance. They are fantastic. The one thing that is most important is communication. They do a great job with communicating everything with us, along with trying to find us the best deal possible. I would recommend Coverdash to others.”

Lisa S.

“Coverdash has been amazing to work with! They listened, truly listened, to what I needed. I am in a niche market, and no one from the 10 other companies I tried to work with would listen. They were quick to make progress on a quote and kept me in the loop the whole way. I would 💯 suggest working with them.”

Mandy M.

“My csr has been wonderful!!! The most helpful and quickly, very quickly helped me get certificates to the marinas. Excellent at explaining and helping me!!!”

Terry N.

“Coverdash did a great job of getting us a quote and saving us money! They did well at communicating and answering our questions.”

Bonnie M.

“What a good experience . I had been unsuccessful in trying to get General liability for my business . They were very professional and tireless in getting two bids for me .They were patient with my struggles trying to navigate the technical end of things telling me they would help me every step of the way and they did just that ..even reading the exclusion to me .. They were patient in explaining all the terms I did not understand and sent copies of everything . They were prompt to respond to my calls and I will definitely use them again for all my insurance needs.”

Joey W.

“They helped me secure & submit insurance requirements with less than a 24 hour timeline. It was the difference between getting a contract or not for me, even though the time crunch wasn’t their problem, they helped me secure what I needed to make it happen. When AI and computers have limits, a real person knows how to get past hurdles. Highly recommend Coverdash, so glad I found them.”

Whitney C.

“I reached out to Coverdash for assistance with a COI, they were responsive and helpful throughout the process. I appreciate all their efforts to get a COI that suited my needs.”

Michael C.

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