Riskcovry - About the company
Riskcovry is a series A company based in Mumbai (India), founded in 2018 by Chiranth Patil, Vidya Sridharan, Sorabh Balvirchand Bhandari and Suvendukumar Shyamsundar Prusty. It operates as a Provider of a platform for digital insurance distribution and management. Riskcovry has raised $14.4M in funding from investors like Morphosis Venture Capital, HDFC and Smile Gate Investment, with a current valuation of $*****. The company has 81 active competitors, including 20 funded and 20 that have exited. Its top competitors include companies like Guidewire, Arya.ai and Bravura Solutions.
Company Details
Provider of a platform for digital insurance distribution and management. The platform offers tools for managing the insurance lifecycle, including purchase, management, and claims. It provides a unified application programming interface for integrating with multiple insurers and products. The platform supports assisted, embedded, and direct insurance distribution channels.
- Website
- www.riskcovry.com/
- Social
- Email ID
- *****@riskcovry.com
- Phone Number
- +91 **********
- Registered Address
- 601, Aryston Centre, Opposite JW Marriott Hotel, Juhu Tara Road, Juhu, Juhu, Mumbai, Mumbai, Maharashtra, India, 400049
Legal entities associated with Riskcovry
Riskcovry is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
UMBO IDTECH PRIVATE LIMITED CIN: U74999MH2018PTC305567 , India, Active | Feb 24, 2018 | $5.44M (As on Mar 31, 2025) | 126 (As on Mar 01, 2026) |
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Riskcovry's funding and investors
Riskcovry has raised a total funding of $14.4M over 5 rounds. Its first funding round was on Apr 15, 2019. Its latest funding round was a Series A round on Jan 03, 2024 for $*****. 6 investors participated in its latest round. Riskcovry has 29 institutional investors and 10 angel investors.
Here is the list of recent funding rounds of Riskcovry:
Filter this list
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Jan 03, 2024 | 1401294 | Series A | 4717192 | 4116567 | 6342533 | 3792078 |
Jun 08, 2023 | 6838871 | Series A | 4584140 | 9201788 | 6389932 | |
Mar 08, 2021 | 6070156 | Series A | 4697273 | 1375586 |
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Riskcovry's founders and board of directors
Founder? Claim ProfileThe founders of Riskcovry are Chiranth Patil, Vidya Sridharan, Sorabh Balvirchand Bhandari and Suvendukumar Shyamsundar Prusty.
Here are the details of Riskcovry's key team members:
- Chiranth Patil: Co-founder of Riskcovry and founder of 1 other company. They are also an angel investor in 12 startups and serve on the board of 1 company.Contact Info: 1 phone number
- Vidya Sridharan: Co-Founder of Riskcovry. They are also an angel investor in 3 startups.Contact Info: 1 email address
- Sorabh Balvirchand Bhandari: Co-Founder of Riskcovry. They serve on the board of 1 company.Contact Info: 1 email address and 1 phone number
- Suvendukumar Shyamsundar Prusty: Co-Founder of Riskcovry. They serve on the board of 1 company.Contact Info: 1 email address and 1 phone number
Riskcovry's Board of Directors
Riskcovry's board has 3 active members. Chiranth Patil, Sorabh Balvirchand Bhandari and Suvendukumar Shyamsundar Prusty are part of team.Here is the list of Riskcovry's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Team | - | Current | 8y 3m | |
Team | - | Current | 8y 3m | |
Team | - | Current | 8y 3m |
View details of Riskcovry's Founder profiles and Board Members
Riskcovry's employee count trend
Riskcovry has 128 employees as of Aug 25. The total employee count is 3.0% more than what it was in Aug 24. Here is Riskcovry's employee count trend over the years:
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Riskcovry's Competitors and alternates
Top competitors of Riskcovry include Guidewire, Arya.ai and Bravura Solutions. Here is the list of Top 10 competitors of Riskcovry, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st |  Guidewire 2001, San Mateo (United States), Public | Cloud-based platform for property and casualty insurance | - | 77/100 | |
2nd | Provider of AI-powered platforms and APIs for financial services | $2.19M | 64/100 | ||
3rd | Bravura Solutions 2004, Edinburgh (United Kingdom), Acquired | Software solutions for life insurance and wealth management | $28.4M | 64/100 | |
4th | Insurance policy administration and compliance solutions for the insurance industry | - | 64/100 | ||
5th | Provider of software, data, analytics, and related services for financial institutions | - | 63/100 | ||
6th | Provider of a platform for digital insurance distribution and management | $14.4M | 62/100 | ||
7th | Applied 1983, University Park (United States), Acquired | Provider of a cloud-based software suite for P&C insurers, MGA and agents | - | 62/100 | |
8th | Insurance agency management software | - | - | 62/100 | |
9th | Xceedance 2013, Boston (United States), Seed | Provider of consulting, analytics and data sciences for insurance industry | - | 59/100 | |
10th | Instanda 2015, London (United Kingdom), Series B | SaaS-based software suite for the insurance industry | $71.7M | 58/100 |
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Riskcovry's Latest cap tables and shareholding
Founders own 33.50%, Funds (largest shareholder) own 54.30%, Enterprises own 4.31% and Angels own 4.10%. The net worth of Riskcovry's founders is INR 122Cr as of Jun 18, 2024.
Shareholders Name | Post Round Holding % | Net worth | Cumulative Investment | Realised Returns | Unrealised Returns | Return Multiple |
|---|---|---|---|---|---|---|
Founder | 33.50% | 122Cr | 9053713 | 8053769 | 2315391 | 7904554 |
6544079 | 9554923 | 2205543 | 1761121 | 6108739 | 3608308 | |
6505041 | 6935412 | 4943268 | 2481040 | 1135773 | 7523018 | |
8538617 | 3503555 | 5089662 | 2604493 | 7966090 | 9245518 | |
3 | 2 | 2 | 8 | 3 | 6 | |
Fund | 54.30% | 198Cr | 5425031 | 6110972 | 1663375 | 4857101 |
1556619 | 4913792 | 1589913 | 7378224 | 7749598 | 4893101 | |
6139121 | 9462527 | 1215496 | 9967555 | 1510152 | 6296667 | |
5681 | 7990 | 9438 | 2662 | 3956 | 2832 | |
5 | 1 | 8 | 4 | 6 | 6 | |
Enterprise | 4.31% | 15.7Cr | 6127 | 9062 | 5883 | 8844 |
Angel | 4.10% | 15Cr | 8754 | 2708 | 8445 | 3560 |
0 | 0 | 0 | 0 | 0 | 0 | |
Other People | 0.72% | 2.61Cr | 0 | 0 | 0 | 0 |
ESOP Pool | 3.06% | 11.2Cr | 569 | 855 | 291 | 983 |
Total | 99.99% | 365Cr | 5582246 | 5968430 | 1605701 | 1260422 |
To unlock detailed Cap Table of Riskcovry 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 Riskcovry's Shareholding
Riskcovry's Investments and acquisitions
Riskcovry has made no investments or acquisitions yet.
Reports related to Riskcovry
Here is the latest report on Riskcovry's sector:
News related to Riskcovry
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Ideal Insurance Brokers Join Hands with Riskcovry to Launch Digital Insurance PlatformElets Technomedia•Nov 28, 2024•Ideal Insurance Brokers, Riskcovry
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Insurtech Platform Riskcovry Secures 4 5 Mn From Morphosis OthersBW Businessworld•Jan 08, 2024•Riskcovry, Morphosis Venture Capital, IIFL Finance
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Varanium Capital Closes Final Round Of Fintech Focused VC Fund At INR 140 CrInc42•Dec 15, 2021•VCAPL, HomeCapital, Riskcovry, Easebuzz and 2 others
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Riskcovry generates INR 100 cr. onboards 50+ enterprise, across 10+ industriesTechiexpert•Aug 26, 2021•Riskcovry
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Funding frenzy fires up early-stage startups - The Economic TimesIndiatimes•Mar 18, 2021•Riskcovry, Vested Finance
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Omidyar leads Series A round in insurtech firm RiskcovryVCCircle•Mar 09, 2021•Riskcovry, Omidyar Network India, Pentathlon Ventures, DMI Sparkle Fund and 3 others
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Riskcovry raises ₹9.3 crore in pre-Series A roundBusiness Line•May 21, 2020•Riskcovry, Bharat Innovation Fund, VCAPL, Better Capital and 1 other
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