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CoverForce
API-driven platform enabling insurance agents, brokers, and agencies to quote, bind, and manage commercial insurance policies
About CoverForce
CoverForce operates as a digital insurance platform designed to streamline the insurance purchasing process for small and medium-sized businesses (SMBs). The company provides a comprehensive API that enables users to quote, pay, and bind insurance policies seamlessly. CoverForce connects large agencies, wholesalers, and corporate clients with Tier 1 property and casualty (P&C) insurance carriers, facilitating a more efficient and integrated insurance experience.
The platform is particularly beneficial for brokers, agents, and professional employer organizations (PEOs), offering a smart single submission form that yields bindable quotes from select carriers. This feature allows users to do more business with their preferred carriers and select the preferred payment option directly on the platform. CoverForce serves a wide range of industries, helping customers find the right insurance at the right time.
CoverForce's business model revolves around providing a digital interface that simplifies the insurance quoting and binding process. The company makes money by charging fees for the use of its API and platform services, as well as through partnerships with insurance carriers. By offering a fast and direct connection with carriers, CoverForce reduces the technological burden on its clients and enhances their ability to access top-tier insurance products.
Source: Dealroom company dataAt a glance
- Status
- Operational
- Founded
- 2020
- Headquarters
- New York City, United States
- Employees
- 56
- Open positions
- 4
- Dealroom signal
- 88.0/100
- Industry
- Fintech, Enterprise Software
- Sub-industry
- Financial Management Solutions
- Sector
- Fintech, API, Insurance
- Business model
- SaaS
- Client focus
- b2b
Knowledge graph
More headlines
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| SERIES A✓Equity / VC | Mar 2025 | $13M | $52M | Nyca Partners · Insight Partners | ↗ |
| SEED✓Equity / VC | Jan 2022 | $5M | $20M | Karman Ventures · Muir Capital · Sidekick Partners · QED Investors | — |
Growth signals
Latest recorded traffic for CoverForce is 15K monthly website visits, up 97.4% over the last three months. CoverForce's team grew 30.2% over the past year.
Open positions
Similar companies
Company identity and context are open; selected comparison metrics preview what is available on the platform.
Investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Seed4 investors entered at this stage
Karman Ventures- MCMuir Capital
- SPSidekick Partners
QED Investors
Series A2 investors entered at this stage
Insight Partners
Nyca Partners
Other known investors1 additional known investor
Penn Venture Initiation Program
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
An AI-synthesised read of the highest-engagement posts about CoverForce on X, ranked by likes and reposts, corporate channels excluded.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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