Jove Secures £3.6 Million to Innovate Insurance for Contractors
The insurtech company, Jove, has recently made headlines with the successful completion of its seed funding round, achieving an impressive £3.6 million in investments. This financial milestone is aimed at transforming the insurance landscape for contractors and small businesses on a global scale. Jove’s mission is to revolutionize how these entities manage insurance by addressing long-standing challenges through a digital-first approach. Notably, there is still £400,000 available for a second closing before January 2025, allowing for additional investment to further boost its innovative endeavors.
Leading the funding round was Private Equity Fund Explorer Investments, which was joined by several other notable investors from the UK and Europe, including Seed X, Love Ventures, Portfolio Ventures, New Alpha Asset Management, Exceptional Ventures, and Start Ventures. This collaborative effort serves as a significant endorsement of Jove’s potential to change the way contractors, small businesses, and recruitment firms approach insurance management. Since its inception, the company has received early seed funding from investors like Fuel Ventures back in October 2021, which laid a solid foundation for its current growth trajectory and innovative advancements.
Jove offers a suite of insurance products that provide comprehensive and borderless coverage tailored specifically for contractors and small businesses operating in various jurisdictions. Addressing the gaps often found in traditional insurance models, Jove provides flexible monthly subscriptions that can be paused when contractors are not engaged in work. Their platform leverages AI technology to simplify the insurance process, facilitating a rapid 30-second quote and purchase journey, while also automating insurance validation. With established partnerships with major global recruitment firms such as InterEx, Magnit, Remote, and Hays, as well as mobility platforms like Shiply, Jove is poised to launch a recruitment business insurance scheme across the UK and Europe in early 2025, thus empowering firms to verify insurance effortlessly and secure digital coverage seamlessly. As Amanda Cai, CEO of Jove, stated, “This has never been done before.”
They've invested in Jove
Get to know these Insurtech investors
| # | Investor | Sector | Stage | Activity | Team | Connect |
|---|---|---|---|---|---|---|
1 |  Private Equity Fund Explorer Investments | 1 investment(s) investment(s) | more info | |||
2 |  Seed X | investment(s) investment(s) | more info | |||
3 |  Love Ventures | 6 investment(s) investment(s) | 5 contacts contacts | |||
4 |  Portfolio Ventures | 12 investment(s) investment(s) | 3 contacts contacts | |||
5 |  New Alpha Asset Management | 1 investment(s) investment(s) | more info | |||
6 |  Exceptional Ventures | 6 investment(s) investment(s) | 9 contacts contacts | |||
7 |  Start Ventures | 1 investment(s) investment(s) | more info | |||
8 |  Fuel Ventures | 26 investment(s) investment(s) | 10 contacts contacts |
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