CoverWallet, a NYC-based online insurance manager, raised $2 million in seed funding.
Backers included Sigma Ventures, Highland Capital Partners, Founder Collective and some angel investors including:
– Amol Sarva (founder of Knotel, HaloNeuro and Peek),
– Paul English (founder of Lola and Kayak),
– Joan Lamm Tennant (insurance executive),
– Professor Ed Roberts (MIT),
– Adeyemi Ajao (founder of Tuenti and Identified),
– Jake Gibson (founder of Nerdwallet),
– Professor Jim Cash (Harvard),
– Andres Blank (Scout and Pixable),
– Alfonso Villanueva (head of strategy at Paypal),
– Luis Sanz (founder of Olapic),
– Jonathan Swanson (founder of Thumbtack),
– Scott Hartley (Venture Partner at Metamorphic),
– Christian Busch (marketing executive),
– Julio Bruno (Chairman Time Out),
– Borja Borrero (Aegon),
– Jason Traff (founder of Leaky), and
– Alex Lintner (former President of Intuit and President of Experian).
The company intends to use the funds to launch its platform.
Co-founded by CEO Inaki Berenguer and COO Rashmi Melgiri, CoverWallet provides a digital insurance manager which allows businesses to consolidate insurance policies into a platform featuring automatic risk analysis, document management, benchmarking and data analytics, intelligent data driven risk and insurance assessments, coverage recommendations, peer risk comparisons and claims support.
The solution currently manages commercial insurance including, among others, general liability, commercial property, workers’ compensation, professional liability, errors and omissions and cyber liability coverages and policies. The service’s experts are available to respond to questions via email, phone, video or online chat.