Diligence memo · auto-generated · as of July 2, 2026
MyCover.ai
MyCover.ai looks fair against its niche peers and is quiet on financing cadence.
Businessfiled
MyCover.ai operates in Insurtech, based in Africa. Nigerian insurtech startup MyCover.ai has closed a US$1.25 million pre-seed funding round to bolster its in-house operations and tech talent, invest heavily in its proprietary technology, and strategically expand its operations into other African markets.
Sub-sector tags: ai/ml, insurtech.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
MyCover.ai has raised $1.3M in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Pre-Seed (a round under $1.0M).
Largest single filing: $1.3M on 2023-07-20.
Most recent recorded round closed around 2023-07-20.
Valuation (modeled)modeled
Provath models MyCover.ai at approximately $9.1M (range $817K–$41M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.00× the median modeled value of Pre-Seed Insurtech companies in 2022–2024 (5 peers) — value vs value, same stage and era. Within the normal band (100% of peer median) for its niche.
Financing rhythm & timingmixed
Last raise 3.0 yr ago; this sector typically re-raises about every 18 months.
Slightly overdue versus sector cadence.
Comparablesmixed
Capital scale ranks ahead of 69% of Insurtech peers (16 compared).
Modeled value ranks above 31% of those peers.
Closest niche peers: ETAP, Nice Deer, True Insurtech Solutions Llc, Sehatech.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.