CoverForce, a NYC-based provider of infrastructure platform for commercial insurance, raised $13M in Series A funding.
The round was led by Insight Partners with participation from Nyca Partners.
The company intends to use the funds to expand its platform’s capabilities, onboard additional carriers and distributors, and invest in AI-driven tools to further streamline insurance workflows.
Co-founded by Cyrus Karai, Behram Dinshaw, and Kaivan Wadia, CoverForce is a marketplace for quote-and-bind API connections in commercial insurance, offering a platform for carriers, agencies, and wholesalers. The platform serves as a leading marketplace for quote-and-bind API connections, enabling brokers, wholesalers, and agencies to access instant quotes and one-click binding functionality. The platform integrates with national carriers like AmTrust, Chubb, Liberty Mutual, and Travelers, and covers major commercial lines of business such as Workers’ Compensation, General Liability, Business Owner’s Policies, and Cyber. For carriers and MGAs, CoverForce unlocks new distribution channels and cost efficiencies. For developers, the platform offers flexible APIs to embed insurance workflows into agency-facing software or direct-to-consumer applications.
The commercial insurance connectivity marketplace company has partnered with over 20 of the largest insurance agency wholesalers and networks in America and supporting more than 9,600 producers nationwide.
FinSMEs
05/03/2025