# Covercy Technological Services

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/covercy-technological-services

- Industry: Financial Services
- Headquarters: New York, US
- Website: www.covercy.com
- Total disclosed funding: $6.4M
- Latest round: Seed (Jan 1, 2021)
- Investors on record: 5

## About

Covercy Technological Services Limited provides an advanced investment management platform tailored for the real estate sector, enhancing fundraising, distribution payment processes, and investor reporting efficiency.Founded in 2014, Covercy Technological Services Limited is based in New York, US. The company specializes in investment management solutions for the real estate industry, focusing on improving capital movements and investor relations. Doron Cohen serves as the CEO. Covercy has successfully completed 3 deals, with the most recent funding round being a Seed round on January 1, 2021, where it raised USD 4.2 mn from investors including Altair Investments, Group 11, Microsoft Accelerator, Mindset Ventures, and World Trade Ventures, bringing the total amount raised to USD 4.2 mn.Covercy offers an advanced investment management platform specifically designed for the real estate sector. This platform includes tools for fundraising, distribution payments, and investor reporting. Key features are a user-friendly investor portal that allows real-time performance tracking, document sharing for K-1s and agreements, and a streamlined fundraising process for Limited Partners (LPs). The platform also provides customizable waterfall models for distribution payments, ensuring precise tracking and reconciliation of transactions. Covercy serves General Partners (GPs) across North America, Europe, and parts of Asia, focusing on firms managing large-scale capital movements and investor relations.Covercy generates revenue through subscription-based models and transaction fees related to its financial operations services. Clients pay for access to Covercy's platform, which assists in managing distributions, capital contributions, and investor communications. General Partners utilize the platform to initiate fundraising campaigns, enabling seamless investment management from Limited Partners. Each transaction incurs service fees based on complexity and service volume, and the platform's integration with third-party accounting systems enhances its utility for compliance and reporting accuracy.Covercy plans to leverage the USD 4.2 mn raised in its recent Seed funding round to enhance its platform by developing new features and expanding its geographic market reach. The company is targeting additional market penetration in Europe and Asia by the end of 2023. Future product developments are expected to enhance user experience and operational efficiency, with specific features aimed at improving investor communications and reporting capabilities.

## Funding rounds

- Seed, Jan 1, 2021, $4.2M — Group 11, Mindset Ventures, Microsoft Accelerator, World Trade Ventures, Altair Investments
- Seed, Feb 14, 2016, $2.2M — Group 11

## Investors

- Group 11 (https://capitalatlas.ai/funds/group-11) — Seed
- Mindset Ventures (https://capitalatlas.ai/funds/mindset-ventures) — Seed
- Microsoft Accelerator — Seed
- World Trade Ventures (https://capitalatlas.ai/funds/world-trade-ventures) — Seed
- Altair Investments (https://capitalatlas.ai/funds/altair-investments) — Seed