NEW YORK, 23 January 2023 – Coverdash, a startup offering simplified insurance solutions to companies of all sizes and types through a fully digital platform, is thrilled to announce the formal launch of the firm as well as the completion of an oversubscribed seed investment round.
Coverdash, a New York City-based company, makes it easier for e-commerce vendors, gig workers, and other sorts of business owners to purchase and manage business insurance. In addition to liability, property, workers’ compensation, and cyber insurance, the firm also provides a wide range of other commercial insurance products. Business owners can quickly quote, bind, pay for, and actively monitor insurance policies with Coverdash’s digital insurance experience. Through partnerships with several of the most well-known insurers in the world, Coverdash offers the coverage that expanding businesses require at the most competitive prices.
With only one line of code, partners may simply sell insurance to current customers thanks to Coverdash’s integrated technology. Integration is simple and doesn’t need a lot of engineering work or implementation. Leading online marketplaces, service providers, PEOs, lenders, brokers, and other platforms that engage with or conduct business with enterprises nationally are among the integrated partners in Coverdash’s network.
Ralph Betesh, co-founder, and CEO of Coverdash declared that “Insurtech 2.0” had arrived and represented the next stage of the integrated fintech revolution. “In the insurance market, we have invented a seamless transactional experience. Our goal is to provide partners with these capabilities, so they can assist in making insurance available and straightforward for all American company owners.”
Bling Capital served as the lead investor in Coverdash’s investment round, which also included participation from renowned investors AXIS Digital Ventures, Tokio Marine Future Fund (a partner of World Innovation Lab), Expansion VC, and Cameron Ventures. Greg Hendrick, CEO of Vantage Risk, Garret Koehn, President of CRC Insurance, and Steve Shenfeld, President of MidOcean Partners, all invested in the round as strategic angel investors.
According to Ben Ling, founder, and general partner at Bling Capital, “the development and acceptance of commercial insurance APIs within the insurance industry has reached a tipping point, giving creative firms with the chance to create meaningful growth and change.” “We see Coverdash as the embedded distribution and business insurance of the future. We’re thrilled to accompany and support the team as they continue on their trip.”
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