Coverwatch Raises $4.5 Million Pre-Seed to Transform Commercial Insurance with AI

Coverwatch Secures $4.5 Million in Pre-Seed Funding

San Francisco-based insurtech startup Coverwatch has raised $4.5 million in Pre-Seed funding to accelerate the development of its AI-native insurance platform.

The round was led by CoFound and Restive, with participation from KFund, Liquid2 Ventures, and other investors.

Founded by Miquel Llobet (CEO), Kevin Wu (COO), and Wilmer Yan (CTO), Coverwatch is building an AI-powered platform that helps businesses evaluate insurance risks, identify coverage gaps, reduce premiums, and manage the entire insurance lifecycle.

Using AI to Modernize Commercial Insurance

Coverwatch focuses on organizations with complex and rapidly changing risk profiles by providing a single platform for insurance planning and management.

Its proprietary information extraction and summarization pipeline uses AI agents to analyze business operations and map each client to the appropriate underwriting questions. The platform also delivers proactive risk reduction recommendations, supports contract reviews and insurance planning, and assists with claims management.

The company's customers include homeowner associations, venture-backed technology companies, and consumer brands across e-commerce and consumer packaged goods (CPG).

Expanding Across the United States

The newly raised capital will be used to accelerate product development and expand the company's team.

Coverwatch is currently licensed in 17 U.S. states and expects to obtain licenses across all 48 continental U.S. states by the third quarter of 2026. According to the company, its revenue has been doubling on average each month since the second quarter of 2026.