Covr Financial Technologies, a Hartford, CT-based provider of a digital life insurance platform, raised $15M in series B funding.
The round was led by Stone Point Ventures, with participation from IVG, Aflac Ventures, Allianz Life Ventures, Connecticut Innovations, Fairview Capital, Contour Venture Partners, Commerce Ventures, and Tribeca Early Stage Partners.
The company intends to use the funds to continue to build digital insurance technology and support a number of distribution partnerships, financial advisors and insurance producers.
Led by Michael Kalen, CEO, Covr offers life insurance products from insurance carriers, an easy way to compare rates, and the ability to purchase policies within minutes. Through its digital insurance solutions, the company helps financial institutions deliver an improved experience under the brand their customers already trust.
Covr currently serves over 25,000 financial advisors and over 40 million customers across over 30 financial institutions.