Coverbase (Series A)
Funding Details
Awarder
Inbox
Date Award
November 20, 2025
Vertical
Procurement Technology
Funding Amount
$20,000,000
Company Info
Founding Year
2024
Traction
Coverbase customers are achieving a 90-92% reduction in procurement workloads - saving an estimated $180 million in man-hours.
Founders
Clarence Chio
Market
Fortune 500s, banks, and security-first organizations
Location
San Francisco, CA, USA
Coinvestors
Canapi Ventures, Fika Ventures, Pear Ventures, Silicon Valley Bank, TTV Capital
Company Description

Founded in 2024, Coverbase delivers the industry's only AI-native procurement platform that empowers Fortune 500s, banks, and security-first organizations to embed risk management into every supplier decision. By transforming procurement from an operational burden into a strategic advantage, Coverbase customers are achieving a 90-92% reduction in procurement workloads - saving an estimated $180 million in man-hours - and dramatically accelerating the adoption of new technologies.

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