Covertree
Focused on middle America and specialty insurance lines.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
| investor investor | €0.0 | round | |
| investor investor investor investor investor | €0.0 | round | |
* | $13.0m | Series A | |
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 52 % |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
Related Content
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.
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.
Keywords: Insurtech, Property Insurance, Home Insurance, Renters Insurance, Landlord Insurance, Digital-First, Online Application, Liability Coverage, Monthly Premiums, Financial Stability.