InsurTech startup Jove has secured 拢3.6 million in seed funding to help transform insurance for contractors and small businesses globally.
The London company aims to revolutionise how contractors, small businesses and recruitment firms manage insurance, addressing longstanding challenges with a digital-first approach.
It says it has a 拢400,000 allocation remaining in the round for a second closing before January 2025.
The round was led by Private Equity Fund Explorer Investments, alongside contributions from UK and European VCs including Seed X, Love Ventures, Portfolio Ventures, New Alpha Asset Management, Exceptional Ventures and Start Ventures.
Jove鈥檚 journey to date has been supported by early seed funding from investors such as Fuel Ventures in October 2021.
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The company鈥檚 AI-powered platform streamlines the insurance process, enabling a 30-second quote and purchase journey while automating insurance validation. The embedded solution integrates with human resources and applicant tracking systems, simplifying compliance for recruitment firms, managed service providers and mobility marketplaces.
Jove has already established partnerships with major global recruitment firms and MSPs including InterEx, Magnit, Remote, and Hays, as well as mobility platforms like Shiply.聽聽
It is preparing to launch a recruitment business insurance scheme across the UK and Europe in early 2025.
鈥淲e are thrilled to announce the successful closing of our funding round,鈥� said Amanda Cai, CEO.聽
鈥淭his investment will enable us to further develop our AI-powered insurance validation platform and empower contractors and recruitment companies to achieve seamless insurance compliance and to get their global suppliers and contractors covered instantly. Jove is at the forefront of changing the landscape of how insurance is being quoted and purchased globally.鈥�