COVR Global Raises $2.5 Million Seed Round to Scale its AI-Powered Decision Engine for Insurance
Funding led by MTech Capital with participation from B Capital
COVR Global Raises $2.5 Million Seed Round to Scale its AI-Powered Decision Engine for Insurance
Funding led by MTech Capital with participation from B Capital
COVR Global Raises $2.5 Million Seed Round to Scale its AI-Powered Decision Engine for Insurance
Funding led by MTech Capital with participation from B Capital
COVR Global Raises $2.5 Million Seed Round to Scale its AI-Powered Decision Engine for Insurance
Funding led by MTech Capital with participation from B Capital
LONDON, UK – June 18, 2025 — COVR Global (“COVR”), an AI-driven insurtech company transforming how insurers settle claims and make real-time, critical decisions, today announced that it has secured $2.5 million in seed funding. The round was led by MTech Capital, with participation from B Capital.
COVR is pioneering a new category of AI-powered decision intelligence tailored specifically for the insurance industry. COVR’s modular Decision Engine allows insurers to answer high-impact questions in real time when settling claims such as: Is this the right policy? Is this damage covered? Who is liable? Should we settle in cash? What’s the best course of action?
“Insurance touches every part of our lives, from the homes where we live to the roads we travel,” said Markus Hillebrand, CEO and Co-Founder of COVR. “We’re building AI that brings clarity and fairness to a complex business process, giving insurers the information they need in real time to make better claims decisions.”
The COVR Decision Engine is the first of its kind, built specifically for the insurance industry, combining AI, machine learning, and decision logic to support instantaneous decision-making across the entire insurance claim lifecycle. It delivers modular, plug-and-play AI that integrates directly into existing workflows, enabling insurers to move from static processes to dynamic, explainable decisions that enhance accuracy, reduce delays, avoid costly errors, and improve the customer experience.
The seed funding will support product development and team expansion, with a focus on advancing AI modeling and decision automation infrastructure, to meet the rising demand from insurers. COVR currently operates across the UK, Spain, Japan and Australia and partners with some of the world’s largest insurers.
“We’re at an early stage of the transformation of the insurance industry by AI. Clearly AI — with its core strengths of analyzing, classifying and summarizing unstructured data — is a game changer for more effective claims settlement. We believe Markus and the senior executives he has assembled are the most experienced team in the market today for claims technology. We’re very excited by the potential we see for COVR to become a claims powerhouse with a global footprint,” said Kevin McLoughlin, Partner and Co-Founder of MTech Capital.
COVR supports a wide range of use cases across personal and commercial insurance claims, including:
Coverage: Turns uncertainty into certainty by assessing policy terms and loss details to confirm whether a claim is covered.
Smart Claim Routing: Quickly determines whether a claim requires human intervention or can be processed automatically, reducing delays and manual workload.
Household Items Settlement: Enables policyholders to settle common household losses or damages in minutes through a guided, self-service workflow.
COVR’s team brings together deep technical and industry expertise, with decades of experience across insurance, insurtech, and enterprise technology. The company was founded by people who have experienced the complexity of insurance claims processing firsthand. From modernizing legacy workflows at global carriers to building AI-powered products, the team has delivered tangible outcomes in some of the most complex operational environments. This unique mix of industry insight and product-driven experience shapes how COVR aims to alleviate challenges faced by insurers worldwide.
“We’re excited to support COVR as they redefine how insurers make high-stakes decisions more efficiently at scale,” said Gabe Greenbaum, General Partner at B Capital. “Markus and the team bring a unique combination of technical expertise and industry insight, and their platform has already been successful in delivering actionable, real-time, AI solutions for some of the world’s leading insurers."
COVR’s plug-and-play architecture and use-case-focused Decision Engine provides insurers with a scalable, low-friction path to answer critical questions in real-time, especially at a time when rising costs, increasing regulatory complexity, and evolving customer expectations are putting legacy processes under pressure.
About COVR Global
COVR is an AI-powered insurtech company helping insurers make smarter, faster, and fairer decisions through the world’s first modular, real-time decision engine built specifically for insurance. Designed to work alongside or plug into existing systems, COVR supports mission-critical use cases, from coverage determination and triage to liability assessment and settlement. COVR currently partners with some of the world’s largest insurers in the UK, Spain, Japan, and Australia. For more information, click here.
About B Capital
B Capital invests globally in extraordinary founders and businesses shaping the future through technology. With more than $8 billion in assets under management and dedicated stage-based funds, the firm focuses on early-stage to late-stage venture growth investments, primarily in the technology, healthcare and climate sectors. Founded in 2015, B Capital has an integrated, global team across nine locations in the U.S. and Asia. The firm’s value-add platform, together with the consulting expertise of its strategic partner The Boston Consulting Group, provides entrepreneurs with the tools and resources to scale quickly and efficiently, expand into new markets and build market-leading businesses. For more information, click here.
About MTech Capital
MTech Capital is an InsurTech-focused venture capital firm with offices in Santa Monica and London. MTech invests in technology-enabled companies with the potential to transform one or more elements of the insurance value chain. We work across P&C, life, and health including employee benefits and asset management. MTech’s team combines decades of experience in venture capital and insurance investment banking. MTech’s investors include some of the world’s largest insurance groups. For more information, click here.
Contacts
For COVR
Markus Hillebrand
contact@covrglobal.com
For MTech Capital
Kevin McLoughlin
kevin@mtechcapital.com
Jack Prescott
jack@mtechcapital.com
For B Capital
Tim Ragones / Kate Thompson / Madeline Jones
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
LONDON, UK – June 18, 2025 — COVR Global (“COVR”), an AI-driven insurtech company transforming how insurers settle claims and make real-time, critical decisions, today announced that it has secured $2.5 million in seed funding. The round was led by MTech Capital, with participation from B Capital.
COVR is pioneering a new category of AI-powered decision intelligence tailored specifically for the insurance industry. COVR’s modular Decision Engine allows insurers to answer high-impact questions in real time when settling claims such as: Is this the right policy? Is this damage covered? Who is liable? Should we settle in cash? What’s the best course of action?
“Insurance touches every part of our lives, from the homes where we live to the roads we travel,” said Markus Hillebrand, CEO and Co-Founder of COVR. “We’re building AI that brings clarity and fairness to a complex business process, giving insurers the information they need in real time to make better claims decisions.”
The COVR Decision Engine is the first of its kind, built specifically for the insurance industry, combining AI, machine learning, and decision logic to support instantaneous decision-making across the entire insurance claim lifecycle. It delivers modular, plug-and-play AI that integrates directly into existing workflows, enabling insurers to move from static processes to dynamic, explainable decisions that enhance accuracy, reduce delays, avoid costly errors, and improve the customer experience.
The seed funding will support product development and team expansion, with a focus on advancing AI modeling and decision automation infrastructure, to meet the rising demand from insurers. COVR currently operates across the UK, Spain, Japan and Australia and partners with some of the world’s largest insurers.
“We’re at an early stage of the transformation of the insurance industry by AI. Clearly AI — with its core strengths of analyzing, classifying and summarizing unstructured data — is a game changer for more effective claims settlement. We believe Markus and the senior executives he has assembled are the most experienced team in the market today for claims technology. We’re very excited by the potential we see for COVR to become a claims powerhouse with a global footprint,” said Kevin McLoughlin, Partner and Co-Founder of MTech Capital.
COVR supports a wide range of use cases across personal and commercial insurance claims, including:
Coverage: Turns uncertainty into certainty by assessing policy terms and loss details to confirm whether a claim is covered.
Smart Claim Routing: Quickly determines whether a claim requires human intervention or can be processed automatically, reducing delays and manual workload.
Household Items Settlement: Enables policyholders to settle common household losses or damages in minutes through a guided, self-service workflow.
COVR’s team brings together deep technical and industry expertise, with decades of experience across insurance, insurtech, and enterprise technology. The company was founded by people who have experienced the complexity of insurance claims processing firsthand. From modernizing legacy workflows at global carriers to building AI-powered products, the team has delivered tangible outcomes in some of the most complex operational environments. This unique mix of industry insight and product-driven experience shapes how COVR aims to alleviate challenges faced by insurers worldwide.
“We’re excited to support COVR as they redefine how insurers make high-stakes decisions more efficiently at scale,” said Gabe Greenbaum, General Partner at B Capital. “Markus and the team bring a unique combination of technical expertise and industry insight, and their platform has already been successful in delivering actionable, real-time, AI solutions for some of the world’s leading insurers."
COVR’s plug-and-play architecture and use-case-focused Decision Engine provides insurers with a scalable, low-friction path to answer critical questions in real-time, especially at a time when rising costs, increasing regulatory complexity, and evolving customer expectations are putting legacy processes under pressure.
About COVR Global
COVR is an AI-powered insurtech company helping insurers make smarter, faster, and fairer decisions through the world’s first modular, real-time decision engine built specifically for insurance. Designed to work alongside or plug into existing systems, COVR supports mission-critical use cases, from coverage determination and triage to liability assessment and settlement. COVR currently partners with some of the world’s largest insurers in the UK, Spain, Japan, and Australia. For more information, click here.
About B Capital
B Capital invests globally in extraordinary founders and businesses shaping the future through technology. With more than $8 billion in assets under management and dedicated stage-based funds, the firm focuses on early-stage to late-stage venture growth investments, primarily in the technology, healthcare and climate sectors. Founded in 2015, B Capital has an integrated, global team across nine locations in the U.S. and Asia. The firm’s value-add platform, together with the consulting expertise of its strategic partner The Boston Consulting Group, provides entrepreneurs with the tools and resources to scale quickly and efficiently, expand into new markets and build market-leading businesses. For more information, click here.
About MTech Capital
MTech Capital is an InsurTech-focused venture capital firm with offices in Santa Monica and London. MTech invests in technology-enabled companies with the potential to transform one or more elements of the insurance value chain. We work across P&C, life, and health including employee benefits and asset management. MTech’s team combines decades of experience in venture capital and insurance investment banking. MTech’s investors include some of the world’s largest insurance groups. For more information, click here.
Contacts
For COVR
Markus Hillebrand
contact@covrglobal.com
For MTech Capital
Kevin McLoughlin
kevin@mtechcapital.com
Jack Prescott
jack@mtechcapital.com
For B Capital
Tim Ragones / Kate Thompson / Madeline Jones
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
LONDON, UK – June 18, 2025 — COVR Global (“COVR”), an AI-driven insurtech company transforming how insurers settle claims and make real-time, critical decisions, today announced that it has secured $2.5 million in seed funding. The round was led by MTech Capital, with participation from B Capital.
COVR is pioneering a new category of AI-powered decision intelligence tailored specifically for the insurance industry. COVR’s modular Decision Engine allows insurers to answer high-impact questions in real time when settling claims such as: Is this the right policy? Is this damage covered? Who is liable? Should we settle in cash? What’s the best course of action?
“Insurance touches every part of our lives, from the homes where we live to the roads we travel,” said Markus Hillebrand, CEO and Co-Founder of COVR. “We’re building AI that brings clarity and fairness to a complex business process, giving insurers the information they need in real time to make better claims decisions.”
The COVR Decision Engine is the first of its kind, built specifically for the insurance industry, combining AI, machine learning, and decision logic to support instantaneous decision-making across the entire insurance claim lifecycle. It delivers modular, plug-and-play AI that integrates directly into existing workflows, enabling insurers to move from static processes to dynamic, explainable decisions that enhance accuracy, reduce delays, avoid costly errors, and improve the customer experience.
The seed funding will support product development and team expansion, with a focus on advancing AI modeling and decision automation infrastructure, to meet the rising demand from insurers. COVR currently operates across the UK, Spain, Japan and Australia and partners with some of the world’s largest insurers.
“We’re at an early stage of the transformation of the insurance industry by AI. Clearly AI — with its core strengths of analyzing, classifying and summarizing unstructured data — is a game changer for more effective claims settlement. We believe Markus and the senior executives he has assembled are the most experienced team in the market today for claims technology. We’re very excited by the potential we see for COVR to become a claims powerhouse with a global footprint,” said Kevin McLoughlin, Partner and Co-Founder of MTech Capital.
COVR supports a wide range of use cases across personal and commercial insurance claims, including:
Coverage: Turns uncertainty into certainty by assessing policy terms and loss details to confirm whether a claim is covered.
Smart Claim Routing: Quickly determines whether a claim requires human intervention or can be processed automatically, reducing delays and manual workload.
Household Items Settlement: Enables policyholders to settle common household losses or damages in minutes through a guided, self-service workflow.
COVR’s team brings together deep technical and industry expertise, with decades of experience across insurance, insurtech, and enterprise technology. The company was founded by people who have experienced the complexity of insurance claims processing firsthand. From modernizing legacy workflows at global carriers to building AI-powered products, the team has delivered tangible outcomes in some of the most complex operational environments. This unique mix of industry insight and product-driven experience shapes how COVR aims to alleviate challenges faced by insurers worldwide.
“We’re excited to support COVR as they redefine how insurers make high-stakes decisions more efficiently at scale,” said Gabe Greenbaum, General Partner at B Capital. “Markus and the team bring a unique combination of technical expertise and industry insight, and their platform has already been successful in delivering actionable, real-time, AI solutions for some of the world’s leading insurers."
COVR’s plug-and-play architecture and use-case-focused Decision Engine provides insurers with a scalable, low-friction path to answer critical questions in real-time, especially at a time when rising costs, increasing regulatory complexity, and evolving customer expectations are putting legacy processes under pressure.
About COVR Global
COVR is an AI-powered insurtech company helping insurers make smarter, faster, and fairer decisions through the world’s first modular, real-time decision engine built specifically for insurance. Designed to work alongside or plug into existing systems, COVR supports mission-critical use cases, from coverage determination and triage to liability assessment and settlement. COVR currently partners with some of the world’s largest insurers in the UK, Spain, Japan, and Australia. For more information, click here.
About B Capital
B Capital invests globally in extraordinary founders and businesses shaping the future through technology. With more than $8 billion in assets under management and dedicated stage-based funds, the firm focuses on early-stage to late-stage venture growth investments, primarily in the technology, healthcare and climate sectors. Founded in 2015, B Capital has an integrated, global team across nine locations in the U.S. and Asia. The firm’s value-add platform, together with the consulting expertise of its strategic partner The Boston Consulting Group, provides entrepreneurs with the tools and resources to scale quickly and efficiently, expand into new markets and build market-leading businesses. For more information, click here.
About MTech Capital
MTech Capital is an InsurTech-focused venture capital firm with offices in Santa Monica and London. MTech invests in technology-enabled companies with the potential to transform one or more elements of the insurance value chain. We work across P&C, life, and health including employee benefits and asset management. MTech’s team combines decades of experience in venture capital and insurance investment banking. MTech’s investors include some of the world’s largest insurance groups. For more information, click here.
Contacts
For COVR
Markus Hillebrand
contact@covrglobal.com
For MTech Capital
Kevin McLoughlin
kevin@mtechcapital.com
Jack Prescott
jack@mtechcapital.com
For B Capital
Tim Ragones / Kate Thompson / Madeline Jones
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
LONDON, UK – June 18, 2025 — COVR Global (“COVR”), an AI-driven insurtech company transforming how insurers settle claims and make real-time, critical decisions, today announced that it has secured $2.5 million in seed funding. The round was led by MTech Capital, with participation from B Capital.
COVR is pioneering a new category of AI-powered decision intelligence tailored specifically for the insurance industry. COVR’s modular Decision Engine allows insurers to answer high-impact questions in real time when settling claims such as: Is this the right policy? Is this damage covered? Who is liable? Should we settle in cash? What’s the best course of action?
“Insurance touches every part of our lives, from the homes where we live to the roads we travel,” said Markus Hillebrand, CEO and Co-Founder of COVR. “We’re building AI that brings clarity and fairness to a complex business process, giving insurers the information they need in real time to make better claims decisions.”
The COVR Decision Engine is the first of its kind, built specifically for the insurance industry, combining AI, machine learning, and decision logic to support instantaneous decision-making across the entire insurance claim lifecycle. It delivers modular, plug-and-play AI that integrates directly into existing workflows, enabling insurers to move from static processes to dynamic, explainable decisions that enhance accuracy, reduce delays, avoid costly errors, and improve the customer experience.
The seed funding will support product development and team expansion, with a focus on advancing AI modeling and decision automation infrastructure, to meet the rising demand from insurers. COVR currently operates across the UK, Spain, Japan and Australia and partners with some of the world’s largest insurers.
“We’re at an early stage of the transformation of the insurance industry by AI. Clearly AI — with its core strengths of analyzing, classifying and summarizing unstructured data — is a game changer for more effective claims settlement. We believe Markus and the senior executives he has assembled are the most experienced team in the market today for claims technology. We’re very excited by the potential we see for COVR to become a claims powerhouse with a global footprint,” said Kevin McLoughlin, Partner and Co-Founder of MTech Capital.
COVR supports a wide range of use cases across personal and commercial insurance claims, including:
Coverage: Turns uncertainty into certainty by assessing policy terms and loss details to confirm whether a claim is covered.
Smart Claim Routing: Quickly determines whether a claim requires human intervention or can be processed automatically, reducing delays and manual workload.
Household Items Settlement: Enables policyholders to settle common household losses or damages in minutes through a guided, self-service workflow.
COVR’s team brings together deep technical and industry expertise, with decades of experience across insurance, insurtech, and enterprise technology. The company was founded by people who have experienced the complexity of insurance claims processing firsthand. From modernizing legacy workflows at global carriers to building AI-powered products, the team has delivered tangible outcomes in some of the most complex operational environments. This unique mix of industry insight and product-driven experience shapes how COVR aims to alleviate challenges faced by insurers worldwide.
“We’re excited to support COVR as they redefine how insurers make high-stakes decisions more efficiently at scale,” said Gabe Greenbaum, General Partner at B Capital. “Markus and the team bring a unique combination of technical expertise and industry insight, and their platform has already been successful in delivering actionable, real-time, AI solutions for some of the world’s leading insurers."
COVR’s plug-and-play architecture and use-case-focused Decision Engine provides insurers with a scalable, low-friction path to answer critical questions in real-time, especially at a time when rising costs, increasing regulatory complexity, and evolving customer expectations are putting legacy processes under pressure.
About COVR Global
COVR is an AI-powered insurtech company helping insurers make smarter, faster, and fairer decisions through the world’s first modular, real-time decision engine built specifically for insurance. Designed to work alongside or plug into existing systems, COVR supports mission-critical use cases, from coverage determination and triage to liability assessment and settlement. COVR currently partners with some of the world’s largest insurers in the UK, Spain, Japan, and Australia. For more information, click here.
About B Capital
B Capital invests globally in extraordinary founders and businesses shaping the future through technology. With more than $8 billion in assets under management and dedicated stage-based funds, the firm focuses on early-stage to late-stage venture growth investments, primarily in the technology, healthcare and climate sectors. Founded in 2015, B Capital has an integrated, global team across nine locations in the U.S. and Asia. The firm’s value-add platform, together with the consulting expertise of its strategic partner The Boston Consulting Group, provides entrepreneurs with the tools and resources to scale quickly and efficiently, expand into new markets and build market-leading businesses. For more information, click here.
About MTech Capital
MTech Capital is an InsurTech-focused venture capital firm with offices in Santa Monica and London. MTech invests in technology-enabled companies with the potential to transform one or more elements of the insurance value chain. We work across P&C, life, and health including employee benefits and asset management. MTech’s team combines decades of experience in venture capital and insurance investment banking. MTech’s investors include some of the world’s largest insurance groups. For more information, click here.
Contacts
For COVR
Markus Hillebrand
contact@covrglobal.com
For MTech Capital
Kevin McLoughlin
kevin@mtechcapital.com
Jack Prescott
jack@mtechcapital.com
For B Capital
Tim Ragones / Kate Thompson / Madeline Jones
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
©COVR Global 2025. All rights reserved
©COVR Global 2025. All rights reserved
©COVR Global 2025. All rights reserved
©COVR Global 2025. All rights reserved