Covr Financial Technologies raises $5m

Boise, Idaho bases digital insurance platform Covr Financial Technologies has raised $5m in venture funding led by Nyca Partners, Commerce Ventures, Connectivity Capital Partners and Contour Venture Partners. The Covr platform connects personal insurance products from nearly twenty major insurers to financial institutions and financial advisers, enabling them to deliver digitally an integrated line of personal insurance products to their customers.

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The platform also provides education and training on products, insurance-product marketing and insurance-licensed telephone support. Covr CEO Bill Benjamin said, "Covr is excited about partnering with these outstanding venture capital firms. Their extensive experience, business expertise and relationships will help propel Covr's growth. Our expectation is to use these funds to fulfill Covr's strategic growth initiatives and expand talent." Hans Morris, managing partner of Nyca Partners and lead investor, 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."

http://www.prnewswire.com/news-releases/covr-financial-technologies-raises-5-million-from-four-leading-venture-capital-firms-nyca-partners-commerce-ventures-connectivity-capital-partners-and-contour-venture-partners-300474311.html?tc=eml_cleartime