CoverTree

CoverTree

Private
Detroit, MichiganFinTechhttps://www.covertree.com

Last Round

Series A

May 9, 2024

Total Funding Raised

$23M

Company Overview

CoverTree is an insurance technology company that offers digital insurance services specifically designed for residents of manufactured homes, utilizing digital distribution, automated underwriting, and data-driven pricing to enhance access to superior insurance options.

Sector

FinTech

Verticals

InsurTech, PropTech Services, Vertical SaaS, Property Management

Business Model

B2C

Customer Profile

Marketplace Commission, Subscription SaaS

AI Layer

Application

Keywords

manufactured home insurancemobile home insuranceinsurtechmanaging general agentMGAdigital insurance platformspecialty insuranceautomated underwritingfactory-built home insurancelandlord insurancerenters insuranceproperty manager softwaremodular home insurancetiny home insuranceagent binding platformADU insurance

Historical Pricing

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CoverTree Comps

Public and private peers based on sector, stage, and business model.

CompanyStatusEst. ValuationRev Multiple
OpenAIPrivate$86.0B~40x
CoherePrivate$5.0B--
Competitor 1Public$XX.XBXXx
Competitor 2Public$XX.XBXXx

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CoverTree Funding Rounds

Historical fundraising activity

RoundDateAmount RaisedValuationInvestorsSources
Series AMay 9, 2024
SeedSep 19, 2022

Key People

Founding team and executive leadership

Rishie Modi

Co-Founder, COO

Founding Team

Adarsh Rachmale

Co-Founder CEO

Founding Team

Ian McCreadie

Chief Financial Officer

Executive Team

CoverTree Investors

Notable investors and investment history

InvestorRounds
Distributed VenturesSeries A, Seed
PortageSeries A
Ludlow VenturesSeed, Series A
Annox CapitalSeed, Series A
AV8 VenturesSeries A, Seed
Detroit Venture PartnersSeed, Series A
PortageSeries A

CoverTree Filings

SEC and related filings with document metadata.

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CoverTree Filings

SEC and related filings with document metadata.

Frequently Asked Questions

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Firmographic Details

HeadquartersDetroit, Michigan
Employee Range54
Year Founded2014
Last FundingMay 9, 2024

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