USA – CoverTree, a Detroit, MI-based digital insurance solution for residents of manufactured homes, raised $10 million in seed funding.
The round was co-led by AV8 Ventures and Distributed Ventures with participation from Detroit Venture Partners, Ludlow Ventures, and Annox Capital. The company intends to use the funds for team growth, state and product line expansion, expansion of technology that includes distribution portals and further automated underwriting, as well as investment in major partners.Led by Adarsh Rachmale, CEO, Divyansh Sharma, CTO, and Rishie Modi, Co-Founder, CoverTree is an insurtech company that focuses on bringing digital distribution, automated underwriting, and data-driven pricing to specialty personal lines of insurance. Its manufactured home product is available in Arizona, Indiana, Michigan, New Mexico, Ohio, Illinois, and Tennessee.19/09/2022
