Covered by SAGE collects $6m in its seed round

InsurTech startup Covered by SAGE has collected $6m in its seed round, which was led by NFX.

Additional contributions came from Tectonic Capital and Treasury, Metaprop and Blue9. Investments also came from the founders of Casper, Tinder, Pillpack, Flatiron Health and Thumbtack.

Covered by SAGE is a plug-and-play agency platform which reduces the challenges of building, managing and retaining an insurance book, it claims.

The property and casualty (P&C) insurance brokerage leverages APIs to give agents and brokers a simple, transparent risk management platform, which offers a clearer image of customer exposures.

Covered by SAGE founder and CEO Rashik Adhikari said, “Insurance agents play a vital role in risk management in our communities.

“However, traditional brokerages, underpenetrated by technology, are falling behind in empowering retail agents to navigate the fast-evolving insurance distribution landscape. A retail agent today needs to have the flexibility to write insurance policies from anywhere and the economics that support them. We are excited about being able to challenge the status quo for better outcomes for both insurance agents and their customers.”

The InsurTech previously raised a pre-seed round back in 2018 from Tectonic Capital and the co-founder of Tinder.

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