Collective raises $100 million. Collective, a financial platform for solopreneurs, announced $100 million in financing: a $40 million Series B led by General Catalyst, QED Investors, and Gradient Ventures, with participation from Intuit Ventures, FT Partners, and SemperVirens, and a $60 million growth facility from General Catalyst's Customer Value Fund. The financing will support customer acquisition and product development in banking and insurance. Founded in 2020, the San Francisco-based startup provides business formation, payroll, tax, and bookkeeping services. Collective also offers business insurance through a partnership with Coverdash. "AI is leveling the playing field, making it possible for a single individual to build a powerful, highly profitable enterprise. Traditional accounting firms scale by adding people. Collective scales with intelligence. Every workflow we automate and every part of the financial stack we bring onto the platform increases what Collective can do for our members. We're building toward a world where a Business-of-One can access the financial capabilities of a much larger company without having to build the team behind it." - Hooman Radfar, co-founder and CEO of Collective. "With CVF, we look for companies with high-quality unit economics and a large market opportunity. We see solo businesses as one of the most dynamic segments of the economy, and we expect that trend to accelerate as AI advances. Collective has built a one-stop shop for their financial needs. Their vision and track record make Collective exactly the kind of company CVF was designed for." - Pranav Singhvi, Partner and co-head of CVF, General Catalyst. Get Coverager to your inbox. A really good email covering top news. By Avi Ben-Hutta · Jul 12, 2023

Insurtech Coverdash and 7shifts launch pay-as-you-go workers' compensation insurance. Oct 20, 2026 Coverdash has partnered with restaurant workforce management platform 7shifts to introduce embedded pay-as-you-go workers' compensation insurance, allowing restaurant operators to purchase and manage coverage directly through their payroll software. The integration enables 7shifts Payroll customers to opt into workers' compensation insurance during registration and purchase coverage with a single click after processing their first payroll. * Coverdash and 7shifts have partnered to integrate pay-as-you-go workers' compensation insurance directly into 7shifts Payroll, allowing restaurant operators to purchase coverage without leaving the platform. * Restaurant businesses can compare quotes from more than 40 insurance carriers, purchase policies with one click after their first payroll run and access Certificates of Insurance immediately. * Insurance premiums are linked to actual payroll rather than fixed annual estimates, allowing costs to adjust to seasonal staffing, employee turnover and changes in restaurant operations. Through Coverdash, businesses can compare insurance quotes from more than 40 carriers, select coverage and immediately download Certificates of Insurance (COIs) without leaving the 7shifts platform. Workers' compensation premiums linked to actual payroll. The partnership addresses the challenges restaurants face when managing insurance costs alongside fluctuating staffing requirements. Restaurants frequently adjust their workforce in response to seasonal demand, changes in operating hours and employee turnover. These variations can produce substantial differences between estimated and actual annual payroll expenses. Traditional workers' compensation policies generally calculate premiums using projected annual payroll, potentially requiring larger upfront payments and subsequent premium adjustments following payroll reconciliation. Coverdash's pay-as-you-go model connects insurance premiums directly to payroll information processed through 7shifts. Premiums adjust as actual payroll changes throughout the year, reducing reliance on annual payroll estimates and aligning insurance payments more closely with staffing levels. Restaurant operators already rely on 7shifts to manage their entire HR workflow and payroll, so adding Workers' Compensation to that workflow is a natural fit Jordan Boesch, CEO of 7shifts "Partnering with Coverdash gives operators a simpler, more flexible way to manage coverage as their business changes." Coverdash expands embedded insurance distribution. The integration extends Coverdash's embedded commercial insurance distribution into restaurant payroll management. 7shifts provides restaurant operators with tools for hiring, employee training, scheduling, payroll processing and workforce retention through a single platform. Adding workers' compensation insurance allows businesses to obtain coverage as part of their existing payroll procedures rather than managing a separate insurance purchasing process. "Restaurant payroll can change significantly throughout the year, but Workers' Compensation has traditionally been built around an annual estimate," said Bobby Jones, head of partnerships at Coverdash. "By connecting coverage directly to 7shifts Payroll, we're making it easier to get covered and keep premiums aligned with actual payroll." Coverdash specializes in embedding commercial insurance products into payroll, financial services and business management platforms. The New York-based company is licensed in all 50 US states and provides technology that enables software platforms to incorporate insurance quoting, purchasing and policy management into their existing customer workflows. The partnership with 7shifts extends that distribution model to restaurants, where hourly employment, seasonal staffing and frequent workforce changes can complicate traditional workers' compensation premium calculations.