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Coverflow raises $4.8M in seed funding led by AIX Ventures to enhance its AI insurance platform and expand its team.

Jul 16, 202517 days ago

Amount Raised

$4.8 Million

Round Type

seed

San FranciscoInsurtechInsuranceFintechMachine LearningArtificial IntelligenceInformation TechnologySoftware

Investors

Afore CapitalFounder CollectiveAix Ventures

Description

Coverflow, a San Francisco-based AI insurance platform, raised $4.8M in seed funding. The round was led by AIX Ventures, with participation from Founder Collective and Afore Capital. The company plans to utilize the funds to expand its team and develop additional features. Coverflow focuses on automating policy checking and improving efficiency for brokers.

Company Information

Company

Coverflow

Location

San Francisco, California, United States

About

Coverflow is an AI insurance platform that automates policy checking, discrepancy flagging, and proposal generation, saving time for brokers. The company leverages proprietary AI models to analyze and extract critical data from policy documents without the need for templates or manual tagging. Its web-based platform requires zero IT integration, allowing for secure automated workflows. Led by Matthew Fastow, Coverflow aims to enhance efficiency for insurance brokers.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers