Coverdash, a small and midsize business focused InsurTech, announced in February $13.5 million in Series A funding.

This financing comes within one calendar year of Coverdash’s oversubscribed Seed round, bringing the company’s total funding to $16 million to date. The Series A round was led by Nyca Partners, joining existing investors, including Bling Capital, AXIS Digital Ventures, Tokio Marine Future Fund, Expansion VC, Cameron Ventures, and others. The latest financing will be used to further expand Coverdash’s embedded partner network, grow its internal team and broaden its insurance carrier panel, according to a company press release.

Founded in 2022, Coverdash offers a full suite of commercial insurance products for all startups and SMBs across the U.S. Coverdash’s embedded technology enables partners from any industry to offer insurance to existing customers with a single line of code. The technology packages the operational, compliance and financial elements to allow partners to deliver highly configurable insurance solutions within their own front-end environments.

“We’re not just making insurance accessible and straightforward for business owners nationwide, we’re acting as their virtual risk management arm,” said Ralph Betesh, co-founder and CEO of Coverdash, in the release. “Coverdash goes beyond coverage – we offer startups and SMBs the support they need, especially in today’s challenging landscape when navigating the complexities of insurance has never been more vital.”

Coverdash’s primary products are general liability, business owners policy, workers compensation, directors and officers liability, cyber insurance and professional liability. The InsurTech’s embedded partner network includes various providers who serve or transact with businesses, including payroll providers, POS providers, banks, lenders and vertical SaaS platforms. The company leverages its proprietary embedded playbook to enhance in-platform user engagement by mapping company milestones with insurance purchase triggers.

Founded in 2022 and headquartered in New York, Coverdash is a licensed insurance agency across all 50 U.S. states.

Source: Coverdash