Investors do well by Jove with £3.6m insurtech investment
Sky Files understands that Jove Insurance has secured the backing in a seed round led by Explorer Funding, a Portuguese-based fund.
Investors including Like Ventures, Portfolio Ventures, Start Ventures, Seed X and Contemporary Alpha Asset Administration also participated within the fundraising, whereas angel investors including the used Google executive Dan Cobley are also amongst Jove’s backers.
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Jove claims to be the main Insurtech to create without boundary traces enterprise criminal responsibility insurance coverage to SMEs and contractors working in a total bunch of occupations within the UK, Europe and the US.
It provides a monthly subscription which would perhaps well moreover moreover be paused when contractors ought to not working in roles which require insurance coverage quilt.
The company says its product is backed by blue-chip insurers such as Hiscox and Large American Insurance Community.
It’s miles amongst an emerging wave of insurance coverage tech firms that are tapping into attach aside a query to for interesting employment patterns amongst tremendous parts of the enviornment personnel.
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Lizhen Cai, the corporate’s founder and chief executive, talked about: “This investment will enable us to extra manufacture our AI-powered insurance coverage validation platform and empower contractors and recruitment firms to wait on out seamless insurance coverage compliance, [enabling them to get their] world suppliers and contractors lined straight away.
“Jove is on the forefront of changing the panorama of how insurance coverage is being quoted and received globally.”
The valuation at which the seed funding became as soon as raised became as soon as not disclosed.