The round was led by Nyca Partners, which joined existing investors including Bling Capital, AXIS Digital Ventures, Tokio Marine Future Fund, Expansion VC, Cameron Ventures and others. The company intends to use the funds to further expand its partner network, grow its internal team, and broaden its insurance carrier panel. Founded in 2022 and led by CEO Ralph Betesh, Coverdash is a fully-digital business insurance agency that offers a full suite of commercial insurance products for all startups and SMBs across the U.S. The technology packages the necessary operational, compliance and financial elements to allow partners to deliver configurable insurance solutions within their own front-end environments. Within its first year of operations, Coverdash has secured over 100 embedded distribution partnerships.