TGV founder Dusan Stojanovic
Silicon Valley-based COVU, an AI-driven platform aiming to transform the insurance landscape, has received au undisclosed amount in investment from Singapore-based True Global Ventures (TGV).
The extension round of US$10 million was led by TGV, with participation from existing investor Benhamou Global Ventures.
The capital will enable COVU to scale its AI capabilities, broaden its market presence, and accelerate growth in the US.
COVU aims to augment insurance agents’ expertise through AI-powered automation, risk management insights, and customer engagement tools. This will enable them to function more effectively and offer enhanced value to their clientele.
Also Read: True Global Ventures’s Web3-focused follow-on fund TGV4 Plus hits US$146M first close
The tool blends intelligent automation with human expertise to empower agencies, brokers, and financial institutions to improve risk management and customer retention and drive business growth.
The solution is designed to enhance, not replace, human expertise by automating routine tasks and delivering proactive risk assessments. This will allow agents to focus on client relationships and boost operational efficiency.
Dusan Stojanovic, General Partner at True Global Ventures, notes that COVU is transforming the insurance industry by enabling agents to utilise AI-driven insights, automate administrative tasks and deliver personalised services. This aligns with TGV’s vision of investing in high-growth AI companies led by experienced entrepreneurs.
TGV focuses on AI-powered business solutions in The San Francisco Bay Area. It primarily invests in enterprise AI and blockchain. The VC firm has so far invested over US$50 million across seven vertical AI companies.
In the US, TGV has already invested in Obligo (a risk/financial services AI company) and Prezent (an AI-powered business communication and presentation productivity platform).
Its arm, TGV 4 Plus, invests in Web3 primarily in late-stage Series A, B and C across entertainment & gaming, financial services, infrastructure & data analytics/AI.
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