Coverdash secures $13.5m to enhance embedded insurance solutions.

TLDR:

• Coverdash, an InsurTech firm, raised $13.5m in Series A funding.
• They focus on providing commercial insurance solutions for startups and SMBs.

Coverdash is a pioneering InsurTech firm that focuses on startups and small and medium-sized businesses (SMBs). They recently secured $13.5m in Series A funding, following an oversubscribed Seed round. The round was led by Nyca Partners, as well as other previous investors. The capital will be used to expand Coverdash’s partner network, team, and insurance carrier panel. Established in 2022, Coverdash aims to revolutionize how startups and SMBs in the U.S. access commercial insurance products through embedded technology, allowing industry partners to offer tailored insurance solutions directly to customers in seconds. Research shows that 75% of U.S. businesses are underinsured, and Coverdash aims to bridge this gap by providing cost-effective insurance solutions, potentially saving businesses 30-40% on insurance costs. Ralph Betesh, Co-Founder and CEO of Coverdash, underlines their role as a virtual risk management arm for businesses. Their innovative embedded insurance model allows for seamless insurance offerings through partner platforms, enhancing customer engagement and retention.