# Cyrus Karai

> Cyrus Karai is the Co-Founder and CEO of CoverForce, a New York-based insurtech building unified API infrastructure that connects insurance carriers, agencies, and wholesalers so commercial insurance can be quoted, paid, bound, and issued in real time. Originally from Australia and a Wharton MBA, he moved from finance roles at BlackRock, Credit Suisse, and PwC into founding CoverForce out of the University of Pennsylvania's Innovation Labs in 2020. Under his leadership the company reached over 9,600 producers nationwide, integrated with major carriers including Travelers, Chubb, Liberty Mutual, and AmTrust, and raised a $13M Series A led by Insight Partners in 2025.

- **Role:** Co-Founder & CEO at CoverForce
- **Organizations:** CoverForce, BlackRock, Credit Suisse, PwC
- **From:** Australia
- **Nationality:** Australian
- **Education:** Master of Business Administration (MBA), The Wharton School, University of Pennsylvania, Bachelor of Commerce, University of Sydney, Higher School Certificate, Newington College
- **Known for:** Co-founded and leads CoverForce, a unified API infrastructure platform for the $960B+ commercial insurance market., Raised a $13M Series A led by Insight Partners (2025), following a $5M round in 2023., Grew reach to more than 9,600 producers nationwide and integration with 15+ major carriers.

## Career timeline

- **Pre-2019** — Worked across financial services: alternative investments at BlackRock, investment banking at Credit Suisse, and strategy consulting at PwC focused on financial institutions and technology.
- **2019** — Began MBA at The Wharton School, University of Pennsylvania.
- **2020** — Co-founded CoverForce at the University of Pennsylvania's Innovation Labs; met co-founder Behram Dinshaw after industry leaders recommended they connect.
- **2023** — CoverForce raised $5M for its digital infrastructure platform connecting carriers with agencies.
- **2025** — CoverForce closed a $13M Series A led by Insight Partners, with Nyca Partners participating; reached 9,600+ producers nationwide.

## Achievements

- Co-founded and leads CoverForce, a unified API infrastructure platform for the $960B+ commercial insurance market.
- Raised a $13M Series A led by Insight Partners (2025), following a $5M round in 2023.
- Grew reach to more than 9,600 producers nationwide and integration with 15+ major carriers.
- Reached seven-figure sales with almost zero marketing spend.
- Earned the highest possible NPS scores from customers during investor due diligence.
- Cut carrier integration timelines from months to weeks.

## Latest updates

- **2025-03** — CoverForce closed a $13M Series A led by Insight Partners; Sophie Beshar of Insight joined the board.
- **2025-06** — Karai discussed leveraging the industry talent shortage as a tailwind for CoverForce's API infrastructure buildout.

## Links

- Website: https://coverforce.com
- LinkedIn: https://www.linkedin.com/in/cyrus-karai

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Profile page: https://yespress.io/cyrus-karai
Published by YesPress — https://yespress.io
Last updated: 2026-07-22