Coverstack - About the company
Coverstack is a series A company based in Mumbai (India), founded in 2010. It operates as an Insurtech platform providing no-code, plug-and-play insurance infrastructure solutions. Coverstack has raised $56.1M in funding from investors like Accel, SAIF Partners and Aegon, with a current valuation of ₹*****. The company has 557 active competitors, including 71 funded and 47 that have exited. Its top competitors include companies like Agentero, Wefox and Players Health.
Company Details
Insurtech platform providing no-code, plug-and-play insurance infrastructure solutions. The platform helps non-banking financial institutions digitize their services, supports BFSI companies, aids companies in resource acquisition and transportation, provides tech support etc
- Website
- coverstack.in
- Social
- Registered Address
- C Wing, 5098-5099, 5th Floor, Oberoi Garden Estate, Chandivali Farm Road, Mumbai, Mumbai, Mumbai, Maharashtra, India, 400072
Key Metrics
Founded Year
2010
Location
Mumbai, India
Stage
Series A
Total Funding
$56.1M in 6 rounds
Latest Funding Round
Post Money Valuation
₹***** as on Oct 04, 2025
Ranked
4th among 557 active competitors
Annual Revenue
₹50 - ₹100 Cr as on Mar 31, 2025
Employee Count
57 as on Sep 30, 2026
Legal entities associated with Coverstack
Coverstack is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
COVERSTACK TECHNOLOGIES PRIVATE LIMITED CIN: U72200MH2010PTC210076 , India, Active | Nov 15, 2010 | ₹50 - ₹100 Cr (As on Mar 31, 2025) | 56 (As on Apr 01, 2026) |
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Coverstack's funding and investors
Coverstack has raised a total funding of $56.1M over 6 rounds. Its first funding round was on Oct 17, 2014. Its latest funding round was a Angel round on Dec 12, 2019 for ₹*****. 1 investor participated in its latest round. Coverstack has 10 institutional investors and 4 angel investors.
Here is the list of recent funding rounds of Coverstack:
Filter this list
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Dec 12, 2019 | 5150611 | Angel | 5317098 | 9258618 | 2740790 | 5876017 |
Nov 28, 2018 | 7697233 | Series A | 8182699 | 5725817 | 4191459 | |
Jan 22, 2018 | 3276434 | Series A | 3650155 | 6716896 |
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Coverstack's founders and board of directors
Founder? Claim ProfileCoverstack's employee count trend
Coverstack has 57 employees as of Sep 26. Here is Coverstack's employee count trend over the years:
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Coverstack's Competitors and alternates
Top competitors of Coverstack include Agentero, Wefox and Players Health. Here is the list of Top 10 competitors of Coverstack, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Agentero 2017, Berkeley (United States), Series A | App-based agency management solutions for insurance agents | $23.5M | 67/100 | |
2nd | Wefox 2015, Roggwil (Switzerland), Acquired | App-based P&C insurance comparison platform for individuals | $1.61B | 65/100 | |
3rd | Players Health 2012, Chicago (United States), Series C | Provider of insurance coverage and athlete safety risk management services | $100M | 63/100 | |
4th |  Coverstack 2010, Mumbai (India), Series A | Insurtech platform providing no-code, plug-and-play insurance infrastructure solutions | $56.1M | 52/100 | |
5th | Sixfold 2023, New York City (United States), Series B | AI-based platform offering underwriting automation and decision‑support for insurers | $51.5M | 61/100 | |
6th |  COVU 2004, Redwood City (United States), Series B | Provider of insurance agency management solutions | $50M | 59/100 | |
7th | Broker Buddha 2014, New York City (United States), Acquired | Cloud-based insurance sales and renewal processing solutions for insurance brokers | $10.5M | 59/100 | |
8th |  FIDX 2017, Berwyn (United States), Series B | Provider of technology solutions connecting brokerage, insurance, and advisory ecosystems | $15.9M | 59/100 | |
9th |  180 Seguros 2020, Brazil, Series A | Platform offering personalized home insurance solutions | $52M | 58/100 | |
10th |  Newfront 2017, San Francisco (United States), Acquired | Provider of insurance brokerage and total rewards services | $300M | 58/100 |
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Coverstack's Latest cap tables and shareholding
Founders own 5.90%, Funds own 29.46%, Enterprises (largest shareholder) own 35.30% and Angels own 6.52%. The net worth of Coverstack's founders is INR 31Cr as of Oct 04, 2025.
Shareholders Name | Post Round Holding % | Net worth | Cumulative Investment | Realised Returns | Unrealised Returns | Return Multiple |
|---|---|---|---|---|---|---|
Founder | 5.90% | 31Cr | 73491 | 37225 | 73130 | 51389 |
Fund | 29.46% | 155Cr | 9758214 | 8490776 | 9032467 | 1327140 |
0 | 0 | 0 | 0 | 0 | 0 | |
0 | 0 | 0 | 0 | 0 | 0 | |
0 | 0 | 0 | 0 | 0 | 0 | |
0 | 0 | 0 | 0 | 0 | 0 | |
Enterprise | 35.30% | 185Cr | 9409088 | 4073084 | 6230472 | 4317161 |
Angel | 6.52% | 34.3Cr | 810532 | 392352 | 748340 | 752416 |
883 | 639 | 402 | 896 | 953 | 152 | |
Other People | 6.20% | 32.6Cr | 939271 | 369516 | 832315 | 247784 |
ESOP Pool | 16.61% | 87.2Cr | 8928567 | 1504349 | 9797492 | 3801577 |
Total | 100.00% | 525Cr | 5030032 | 1434631 | 4364550 | 5170215 |
To unlock detailed Cap Table of Coverstack Sign up today!Notes: The column Net Worth represents the net worth of investments made by that entity, as per the latest cap table.
DisclaimerView more details of Coverstack's Shareholding
Coverstack's Investments and acquisitions
Coverstack has made no investments or acquisitions yet.
Reports related to Coverstack
Here is the latest report on Coverstack's sector:
News related to Coverstack
Media has covered Coverstack for 1 event in last 1 year.
•
Coverstack set to raise $11 Mn in new roundStartupNews•Oct 03, 2025•Coverstack, Coverfox, Elevar Equity
•
CarTrade to offer insurance with CoverStack TechnologiesAIM Group•Oct 01, 2022•CarTrade Tech, Coverstack
•
CoverStack, Spinny partner to offer motor insurance to pre-owned car buyersMint•Apr 21, 2022•Coverstack, Spinny
•
Icici Securities Partners Coverstack To Offer Insurance On Icicidirect PlatformMint•Apr 07, 2022•ICICI Direct, Coverstack
•
Amidst woes, Coverfox receives Rs 30 Cr from parent entityEntrackr•Apr 04, 2020•Coverfox Insurance, Coverstack
•
Coverfox.com raises Rs 75 cr in Series-B from Accel, SAIF partners | Business Standard NewsBusiness Standard•Apr 24, 2015•SAIF Partners, Accel, Coverstack
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