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§ Private Profile · San Francisco, CA, USA
AI-native platform automating procurement and third-party risk management for enterprises, focused on vendor security and compliance.
Founded in 2024 by Clarence Chio and Kao Zi Chong, Coverbase is based in San Francisco, California, and provides an AI-native platform for enterprise procurement and third-party risk management. The software automates vendor risk tasks to embed security and compliance into supplier decisions while streamlining the full procurement lifecycle, including sourcing, intake, contract management, and purchase orders. Serving Fortune 500 corporations, banks, and technology firms, the platform currently supports over 40 enterprise customers, featuring recognizable organizations such as Coinbase, Okta, Nationwide, and Navy Federal Credit Union. The company operates on an enterprise SaaS subscription model and has secured over $23.5 million in total venture capital funding to date. This financial backing includes a $3.5 million seed round and a recent $20 million Series A financing round led by Canapi Ventures to further expand its procurement orchestration capabilities.
Coverbase has raised $20.0M across 1 funding round.
Coverbase has raised $20.0M in total across 1 funding round.
Coverbase has raised $20.0M in total across 1 funding round.
Coverbase's investors include Fika Ventures, Founders You Should Know, Ryan Sells, TTV Capital, Valley Bank.
Coverbase has raised $20.0M across 1 funding round. Most recently, it raised $20.0M Series A in November 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Nov 20, 2025 | $20M Series A | — | Fika Ventures, Founders YOU Should Know, Ryan Sells, TTV Capital, Valley Bank | Announced |