About Coverstack
Coverstack is a Financial Services company based in Mumbai (India) founded in 2010. Coverstack has raised $55.59 million across 6 funding rounds from investors including Accel, International Finance Corporation and Aegon. Coverstack was last valued at $103.35 million in December 2019. Its chief executive is Sanjib Jha. Its Indian entity Coverstack Technologies Private Limited reported revenue of ₹56.00 Cr. Coverstack offers products and services including B2C Stack, Lending Stack, POS/Agent Stack, Group Stack, and Brokerage Services. Its focus areas include FinTech, Insurance IT, Insurance Policy Solutions and Software for Insurance Intermediaries. Its competitors include Wefox, Stubben Edge, Zywave, Keystone Agency Partners and Sixfold and 5 more; 8 of its 10 listed competitors have raised funding.
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
- Headquarters Mumbai, India
- Stage Minicorn
- SectorsFinancial Services
- Website coverstack.in
- Social LinkedIn X Facebook Instagram YouTube
- Legal Name Glitterbug Technologies Private Limited
- Date of Incorporation 15 Nov, 2010
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹56.00 Cr
FY 2025 · +1698% YoY
- Net Loss-₹11.71 Cr
FY 2025 · -21% margin
- EBITDA-₹5.97 Cr
FY 2025 · -11% margin
- Total Equity Funding$55.59M (USD)
in 6 rounds
- Latest Funding Round$988.41K (USD), Angel Round
Dec 2019
- InvestorsAccel
& 9 more
Associated legal entities of Coverstack
Coverstack operates through Coverstack Technologies Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Coverstack Technologies Private Limited CIN U72200MH2010PTC210076 | Active | 15 Nov 2010 | Mumbai, Maharashtra | ₹56.0 Cr | 54 | 5 | View details |
Products & Services of Coverstack
Coverstack offers a comprehensive portfolio of products and services, including B2C Stack, Lending Stack, POS/Agent Stack, Group Stack, and Brokerage Services.
Enables launching digital insurance business quickly for consumers.
Offers insurance to borrowers through lending partners seamlessly.
Streamlines point-of-sale operations with all-in-one module.
Provides curated insurance solutions for customer groups.
Empowers businesses to offer compliant insurance solutions.
Manages issuance and claims with no client tech intervention.
Embeds insurance in product journeys for digital lenders.
Handles call centers and claims management externally.
Tracks claims from initiation to resolution via dashboard.
Apps and channels of Coverstack
its YouTube channel Coverstack has 8 subscribers and 6 videos.
Videos from Coverstack
The most watched videos on Coverstack's YouTube channel, Coverstack (8 subscribers). Click a video to play it here.
More on Coverstack .
Funding Insights of Coverstack
Coverstack has successfully raised a total of $55.59M across 6 strategic funding rounds. The most recent funding activity was a Angel Round of $988.41 thousand completed in December 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $55.59M
- Total Rounds 6
- Last Round Angel Round — $988,414
- First Round $2.11M
(Oct 2014)
- Investors Count 10
All 6 funding rounds of Coverstack with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec 2019 | $988,414 | Angel Round | $103.35M | Varun Dua | – |
| Nov 2018 | $16.57M | Series A | $102.29M | AVANA Capital, Anjali Bansal | |
| Jan 2018 | $14.8M | Series A | $••••• | Aegon | |
| Dec 2016 | $7.23M | Seed | $••••• | SAIF Partners, Accel | |
| Jul 2015 | $13.9M | Seed | – | – | |
| Oct 2014 | $2.11M | Seed | $••••• | – |
| Date | Valuation | Stage |
|---|---|---|
| Dec 2019 | $103.35M | •••••••• |
| Nov 2018 | $102.29M | •••••••• |
| Jan 2018 | $••••• | •••••••• |
| Dec 2016 | $••••• | •••••••• |
| Oct 2014 | $••••• | •••••••• |
Full valuation and stage history of Coverstack
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
- Dates
- Exports
Verified entity values are shown only after access is granted.
Last known valuation $103.35M (Dec 2019). 10 investors in total: 8 institutional and 2 angel.
Investors in Coverstack
Coverstack has secured backing from 10 investors, including angel, institutional, and venture fund investors. Prominent investors backing the company include Accel, International Finance Corporation and Aegon.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Growth capital is provided to companies in China by SAIF Partners. | – | sbaif.com | Hong Kong, China | |
Accel is recognized as a leading venture capital firm. | 1983 | accel.com | Palo Alto, United States | |
Corporate-backed venture capital firm focused on fintech, healthcare, and multiple sectors | – | transamericaventures.com | New York, United States | |
IFC is focused on private sector development in emerging markets. | 1956 | ifc.org | - | |
Catamaran is engaged in venture capital and private equity investments. | – | catamaran.in | Bengaluru, India | |
Private investment arm of Kris Gopalakrishnan Family Office. | 2014 | pratithi.com | Bengaluru, India | |
Direct lending in real estate is provided by AVANA Capital. | 2002 | avanacapital.com | Glendale, United States | |
Operations are focused on life insurance, pensions, and asset management. | 1844 | aegon.com | The Hague, Netherlands | |
VD Varun Dua | - | – | unknown_aa71fe4131594678b | - |
AB Anjali Bansal | Founder of Avaana Capital, ex-McKinsey Partner, active angel investor | – | unknown_4db064c90c6744d2b | - |
Investor details for Coverstack
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Verified entity values are shown only after access is granted.
Board of directors of Coverstack Technologies Private Limited (Coverstack)
Coverstack Technologies Private Limited is the primary company behind Coverstack. The board of Coverstack Technologies Private Limited currently have 4 directors; the longest-serving is Sanjib Jha, appointed in 2020. 20 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Sanjib Jha DIN 02277191 | Director | 21 Aug 2020 | 6 yrs 2 mo | Coverstack Technologies Private Limited |
| Rahul Dhanasing Bhapkar DIN 09337679 | Director | 01 Oct 2021 | 5 yrs | Coverstack Technologies Private Limited |
| Sandeep Singhal DIN 00422796 | Additional Director | 04 Oct 2025 | 1 yr | Coverstack Technologies Private Limited |
| Jyotsna Krishnan DIN 06572288 | Nominee Director | 20 Nov 2025 | 11 mo | Coverstack Technologies Private Limited |
People of Coverstack
23 people are tracked at Coverstack (5 in leadership, 18 in team).
| Name | Role | Group |
|---|---|---|
| CEO | Leadership | |
Shivani N. | Chief Human Resources Officer | Leadership |
Parag Tyagi | Director Of Engineering | Leadership |
Shreyans Vijay | Chief Business Officer | Leadership |
Shekhar Chavan | Assistant Vice President Sales | Leadership |
Amol Rajput | Senior QA Engineer | Team |
Vaishali Gunduka | Team Lead- QA | Team |
Ayush Mudiraj | Software Developer | Team |
Pratik Pashte | Team Lead QA | Team |
Harsha Tiwari | Sr. Software Developer | Team |
Raghavendra Venkatesh | Back End Developer | Team |
Sarita Chaudhary | Software Developer | Team |
Binson Babu | Consultant | Team |
Waqar Khan | Back End Developer | Team |
Abhishek Kumar | Senior Software Engineer At Coverstack | Team |
Anusha Dalvi | Software Engineer | Team |
Suryaprakash Jha | Team Lead | Team |
Abhijeet Kumar | Senior Manager - Cbo’s Office (strategy & Execution - Ops) | Team |
Aaditya Mandloi | SDE 1 | Team |
Piyush Agarwal | Software Developer | Team |
3 more people are available in the full profile.
Complete people profiles for Coverstack
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Coverstack
Figures of Coverstack Technologies Private Limited, the primary company behind Coverstack, for FY 2025. Revenue was ₹56.00 Cr (+1698% year on year). Net loss was -₹11.71 Cr (-21% margin). EBITDA was -₹5.97 Cr (-11% margin). Revenue has grown at a compounded annual rate of +161% over three years and +40% over five years.
- ₹56.00 CrRevenue · FY 2025 · +1698% YoY
- -₹11.71 CrNet loss · -21% margin
- -₹5.97 CrEBITDA · -11% margin
- ₹13.7 LakhPaid-up capital
- 54Employees (provident fund records)
- +161%Revenue CAGR, 3 years
- +40%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Coverstack Technologies Private Limited are on its company page.
Detailed financial statements for Coverstack
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Verified entity values are shown only after access is granted.
Timeline of Coverstack
4 dated milestones of Coverstack across 9 years, from founding to its latest funding, stage changes and deals.
- Founded Coverstack is founded.
- Funding First funding round of $2.1M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Angel Round, of $988K.
Competitors of Coverstack
Coverstack has 10 listed competitors in our database, 8 of them funded. They include Wefox, Stubben Edge, Zywave, Keystone Agency Partners and Sixfold, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| wefox.com | 2015 | Berlin, Germany | $1.61B | 394 | App-based P&C insurance comparison platform for individuals | |
| stubbenedge.com | 2010 | London, United Kingdom | $37.1M | 63 | Cloud-based management solutions are provided for insurance brokers. | |
| zywave.com | 1995 | Milwaukee, United States | – | 679 | Cloud-based agency management solutions are provided for the insurance industry. | |
| keystoneagencypartners.com | 2020 | Harrisburg, United States | – | 418 | Insurance agency management solutions are provided to the industry. | |
| sixfold.ai | 2023 | New York, United States | $21.5M | – | AI-based generative tools provider for insurance underwriters | |
| iprism.co.uk | 2006 | London, United Kingdom | $11.92M | 42 | SME insurance portfolios are managed via an online broker platform. | |
| mulberri.io | 2021 | Sunnyvale, United States | $10.8M | – | Mulberri is focused on AI-driven commercial insurance solutions. | |
| agentero.com | 2017 | Berkeley, United States | $23.5M | – | App-based management solutions for insurance agents are offered. | |
| useindio.com | 2015 | San Francisco, United States | $30M | 67 | SaaS-based solutions for commercial insurance agency management are offered. | |
| covu.com | 2004 | Redwood, United States | $48.5M | – | Provider of insurance agency management solutions |
Detailed competitors of Coverstack
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Verified entity values are shown only after access is granted.
Web traffic of Coverstack
The website of Coverstack (coverstack.in) receives about 7.6K visits a month.
- Monthly visits7.6K
▲ 2.7% vs previous month
Top companies in Insurance Technology & Support Services
10 companies that operate in the same segment as Coverstack (Insurance Technology & Support Services), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Insurance products for vehicles, health, travel, and life are offered. | 2016 | Bengaluru, Karnataka, India | USD 746.17 M | USD 216.04 M | 1,306 | |
Auto insurance is delivered via app to individual drivers. | 2017 | London, England, United Kingdom | USD 161.3 M | USD 369.88 M | 625 | |
Cloud-based platform for property and casualty insurance is provided. | 2001 | San Mateo, California, United States | – | USD 1.48 B | 226 | |
Claims administration, loss adjusting, and benefits management services are provided. | 1969 | Memphis, Tennessee, United States | USD 2.63 M | – | – | |
Online property and casualty insurance is provided for businesses. | 2017 | San Francisco, California, United States | USD 800 M | – | 699 | |
Satellite-based imaging solutions are provided using synthetic aperture radar. | 2016 | Palo Alto, California, United States | USD 233.99 M | – | 191 | |
API-enabled insurance distribution platform is provided for B2C companies. | 2011 | Noida, Uttar Pradesh, India | USD 120.6 M | – | – | |
AI and microsatellite-based imaging solutions are developed for data monitoring. | 2014 | Espoo, Uusimaa, Finland | USD 1.25 B | USD 111.51 M | 1,156 | |
Software suite for insurance distribution and management is provided. | 2014 | New York, New York, United States | USD 354.55 M | USD 21.6 K | 649 | |
AI-enabled driver monitoring and fleet safety management solutions | 2015 | Palo Alto, California, United States | USD 215 M | – | 109 |
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Related news about Coverstack
Complete news archive for Coverstack
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Frequently Asked Questions about Coverstack
Coverstack was founded in 2010 and raised its 1st funding round 4 years after it was founded.
Coverstack is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Sanjib Jha is the current CEO of Coverstack.
Coverstack is a funded company, having raised a total of $55.59M across 6 funding rounds to date. The company's 1st funding round was a Seed of $2.11M, raised on Oct 2014.
The primary company behind Coverstack, Coverstack Technologies Private Limited, reported revenue of ₹56.00 Cr for FY 2025, up 1698% year on year.
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.
Coverstack's top competitors include Wefox, Stubben Edge and Agentero.
Coverstack offers B2C Stack, Lending Stack, POS/Agent Stack, Group Stack, and 5 more products and services.
Coverstack has 10 investors. Key investors include Accel, International Finance Corporation, Aegon, AVANA Capital, and Pratithi Investments.
The valuation of Coverstack is $103.35M as of Dec 2019.
Coverstack operates through Coverstack Technologies Private Limited.
The legal entities of Coverstack currently have 5 directors, including Sanjib Jha, Rahul Dhanasing Bhapkar, Sanjib Kumar Jha and others.