Coverbase, founded by CEO Clarence Chio (co-founder of fraud-detection company Unit21) and CTO Kao Zi Chong, is a security-first, AI-powered third-party risk management (TPRM) and procurement platform. It automates how large, regulated companies onboard, assess and continuously monitor vendors — replacing manual questionnaires with autonomous intake, zero-touch API-driven assessments, a risk-assessment copilot that accelerates reviews by ~92%, continuous Supplier Radar monitoring, remote security inspection, and automated contract-obligation tracking. Customers include Nationwide, Coinbase, Okta, Navy Federal Credit Union, BlackRock, and CVS Health. In November 2025 Coverbase raised a $16.5M Series A led by Canapi Ventures — whose alliance spans 70+ financial institutions — with TTV Capital, Pear VC, Valley Ventures, and Founders You Should Know, bringing total funding to $20M.