diff --git a/.codecov.yml b/.codecov.yml
index bbe2ee8e93..d03ad99836 100644
--- a/.codecov.yml
+++ b/.codecov.yml
@@ -6,3 +6,13 @@ coverage:
       default:
         threshold: 0% # Ref: https://docs.codecov.io/docs/codecovyml-reference#coveragestatus
         target: auto
+
+# Since Backstage is a mono repo, flags here help in getting the code coverage of individual packages.
+# Documentation: https://docs.codecov.io/docs/flags
+flags:
+  core:
+    paths:
+      - packages/core/
+  core-api:
+    paths:
+      - packages/core-api/
diff --git a/.github/workflows/master.yml b/.github/workflows/master.yml
index f99c266241..bebca7c6f9 100644
--- a/.github/workflows/master.yml
+++ b/.github/workflows/master.yml
@@ -63,6 +63,9 @@ jobs:
         run: |
           yarn lerna -- run test -- --coverage
           bash <(curl -s https://codecov.io/bash)
+          # Upload code coverage for some specific flags. Also see .codecov.yml
+          bash <(curl -s https://codecov.io/bash) -f packages/core/coverage/* -F core
+          bash <(curl -s https://codecov.io/bash) -f packages/core-api/coverage/* -F core-api
 
       # Publishes current version of packages that are not already present in the registry
       - name: publish