InsurTech company Covr closes $5m funding round

InsurTech business Covr Financial Technologies has closed a $5m funding round.

Nyca Partners, Commerce Ventures, Connectivity Capital Partners and Contour Venture Partners all contributed to the investment.

The company allows consumers to buy insurance online, with the platform connecting users to insurance products from almost twenty insurers, to help them research, compare and buy insurance.

Other offerings from the platform include education and training on products, insurance-product marketing and insurance-licensed telephone support.

Nyca Partners managing partner Hans Morris said, “Covr is clearly the best platform to speed and simplify the insurance sales process, by tying together consumers, carriers and leading financial institutions.

“Covr’s management has done a superior job of managing its growth, and these additional funds will enable Covr to further enhance its platform, and meet the demands of several leading financial institutions in our pipeline.”

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