What is Coverforce?
Established in 1994, Coverforce has evolved into Australia's largest privately owned insurance broker through a combination of client referrals and strategic acquisitions. The company prides itself on delivering exceptional outcomes for its diverse clientele, which ranges from large corporations and SMEs to professionals and not-for-profit groups. This client-centric approach is evidenced by a remarkable 97% client retention rate, significantly surpassing industry benchmarks. Coverforce's unique methodology in insurance broking and risk advice has cemented its reputation for reliability and effectiveness in protecting its clients' interests.
How much funding has Coverforce raised?
Coverforce has raised a total of $13M across 1 funding round:
Series A
$13M
Series A (2025): $13M with participation from Insight Partners and Nyca Partners
Key Investors in Coverforce
Insight Partners
Insight Partners is a global venture capital and private equity firm known for investing in high-growth software and technology companies, providing capital and operational support for scaling businesses.
Nyca Partners
Nyca Partners is a fintech venture capital firm specializing in early-stage investments across payments, infrastructure, and capital markets, offering capital and extensive industry network support.
What's next for Coverforce?
With the recent infusion of $13M in major strategic investment, Coverforce is poised for accelerated growth and innovation. This capital will likely be deployed to enhance its technological infrastructure, expand its market reach both domestically and potentially internationally, and further develop its specialized insurance products for the construction industry and beyond. The company's strong client retention and established market position provide a solid foundation for leveraging this new financing to solidify its status as a dominant force in the Australian insurance brokerage landscape.
See full Coverforce company page
