C
Covertree
Focused on middle America and specialty insurance lines
About Covertree
CoverTree is an American-based insurtech startup that operates in the property insurance market. The company offers a range of insurance products, including home, renters, and landlord insurance, with a focus on simplicity and speed. The business model is centered around a digital-first approach, allowing customers to get a quote, apply, and get insured online in less than three minutes. This approach eliminates the need for paperwork and application fees, making the process hassle-free for the customer.
Read full description
CoverTree serves a broad range of clients, from homeowners to renters and landlords. The company's insurance products cover a wide array of risks, including theft, fire, and other unfortunate events. In the event of a disaster, CoverTree provides funds to maintain the client's lifestyle, including the cost of living elsewhere. The company also offers liability coverage, protecting clients from potential expenses related to injuries that occur on their property.
The company generates revenue through the monthly premiums paid by its customers. The pricing is competitive, with plans starting from $12 per month for renters insurance and $25 per month for home and landlord insurance. The company's insurance products are backed by an "A" rated company, as per AM Best, indicating a strong financial ability to meet its ongoing insurance obligations.
At a glance
- Status
- Operational
- Founded
- 2020
- Headquarters
- Detroit, United States
- Employees
- 55
- Open positions
- 1
- Dealroom signal
- 64.1/100
- Industry
- Fintech, Real Estate
- Sub-industry
- Insurance
- Sector
- Fintech, House and Property Insurance, PandC Insurance, MGA
- Business model
- Marketplace & ecommerce
- Client focus
- b2c
Latest news
Press, funding announcements and product moves mentioning Covertree.
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| SERIES A✓Equity / VC | May 2024 | $13M | $52M | Detroit Venture Partners · Ludlow Ventures · AV8 Ventures · Distributed Ventures | ↗ |
| SEED✓Equity / VC | Sep 2022 | $10M | $40M | Distributed Ventures · Annox Capital · Detroit Venture Partners · Ludlow Ventures | ↗ |
Financials
Revenue, earnings and other financial measures where available. Years marked “E” are estimates.
Growth signals
Latest recorded traffic for Covertree is 9.4K monthly website visits, up 25.3% over the last three months. Covertree's team declined 1.8% over the past year.
Similar companies
Company identity and context are open; selected comparison metrics preview what is available on the platform.
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Seed5 investors entered at this stage
Ludlow Ventures
Annox Capital
Distributed Ventures
Detroit Venture Partners
AV8 Ventures
Series A1 investor entered at this stage
Other known investors3 additional known investors
Everywhere Ventures
Overlook Ventures
The Fund
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
An AI-synthesised read of the highest-engagement posts about Covertree on X, ranked by likes and reposts, corporate channels excluded.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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