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CoverTree logo — Insurtech for Middle America

CoverTree

Insurtech for Middle America

Founded 2020 United States Detroit, United States 54 employees Series A Total: $23.00M Insurance, Insurtech +1

General Information

Company Name CoverTree
Founded Year 2020
Location United States Detroit, United States +1
Employees 54
Industries Insurance, Insurtech, Prop Tech
Funding Stage Series A
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About CoverTree

CoverTree is an Insurtech startup, founded in 2020, headquartered in the United States. The company's slogan "Insurtech for Middle America" encapsulates its mission to provide innovative insurance solutions tailored to middle America and specialty insurance lines. CoverTree Inc aims to revolutionize manufactured home insurance by making it easy, modern, and affordable. Their focus on homes built in a factory, including modular homes, tiny homes, and ADUs, sets them apart in the market. Their approach allows customers to purchase insurance plans online with potential savings of up to 40%. In their latest funding round, CoverTree secured a significant $13.00M Series A investment on 09 May 2024. The investment came from a consortium of prominent investors including AV8 Ventures, Detroit Venture Partners, Ludlow Ventures, Portage Ventures, Annox Capital, and Distributed Ventures. This substantial investment exemplifies the confidence of seasoned venture capital firms in CoverTree's vision and potential for growth in the dynamic Insurtech sector.

Taxonomy: Insurtech, P/C Insurance, MGA, Middle America, Manufactured Home Insurance, Specialty Insurance, Affordable Insurance, Online Purchase, Savings, Modular Homes, Tiny Homes, ADUs

Funding Rounds & Investors (3)

View All
Funding Stage Amount Investors Lead Investors Date
Series A •••••• 6
Investor Investor Investor Investor Investor Investor
09 May 2024
Seed Round •••••• 4
Investor Investor Investor Investor
18 May 2022
Pre Seed Round •••••• - 10 May 2021

CoverTree Alternatives & Competitors

CoverTree vs
IKM Insurance Agency
IKM Insurance Agency

Comprehensive coverage for all your home and auto insurance needs, with customer support available b...

3 employees
Insurance, Car insurance
CoverTree vs
National Real Estate Insurance Group
National Real Estate Insurance Group United States

Insurance solutions designed for real estate investors.

90 employees
Insurance, Real Estate
CoverTree vs
Mappus Insurance Agency, Inc.
Mappus Insurance Agency, Inc. United States

Helping families, investors and businesses with coastal property and flood insurance

17 employees
Insurance, Insurtech
Compare CoverTree vs Mappus Insurance Agency, Inc.
Also compare with: CoverTree vs NHBC NHBC

FAQ About CoverTree

Insurtech for Middle America
CoverTree was founded in 2020.
CoverTree is headquartered in Detroit, United States.
CoverTree operates in the following industries: Insurance, Insurtech, Prop Tech.
CoverTree has approximately 54 employees.
CoverTree has completed 3 funding rounds, raising a total of $23.00M. The latest funding stage is Series A.
Top alternatives and competitors to CoverTree include IKM Insurance Agency, National Real Estate Insurance Group, Mappus Insurance Agency, Inc., Seacoast Brokers, NHBC. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
CoverTree and IKM Insurance Agency are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

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