CoverGo has raised US$6 million in the initial close of its Series B1 funding round, led by Betatron Venture Group (BVG), with participation from new and existing investors.
The Hong Kong-based insurtech will use the funding to develop its AI-native insurance platform and expand into more markets.
CoverGo aims to help insurers modernise and eventually replace their legacy core systems while integrating AI agents to automate operations.
The latest round brings the company’s total funding to more than US$30 million.
Revenue grows tenfold since Series A
CoverGo said its revenue has increased tenfold since its US$15 million Series A funding round in 2022. The company has also reached EBITDA breakeven.
It currently serves 25 institutional clients across 15 countries in the Americas, Asia, Europe, the Middle East and Africa.
Its clients include AXA, Bupa, Generali, Sun Life, Prudential, Blue Cross, MSIG and Marsh.
In Hong Kong, Generali uses CoverGo’s AI agent to process health claims documents, while Asia Insurance adopted its health insurance platform in October 2025.
Betatron backs CoverGo’s expansion
BVG, a Hong Kong-based venture capital firm, invests in B2B technology companies operating in traditional industries, including insurance.
“Insurance companies realise more than ever that they need to modernise their core systems,”
said Tomas Holub, Founder and CEO of CoverGo.
“This funding will help us bring our AI-native platform to more insurance businesses globally and accelerate our vision of becoming the operating system powering the world’s most efficient insurers.”
Founded by Holub in 2017, CoverGo previously participated in Cyberport’s incubation programme. Its platform enables insurers to build, distribute and manage insurance products, policies and claims.
Featured image credit: Edited by Fintech News Hong Kong, based on image by zendaIA via Magnific
