CoverTree Raises $13M in Funding to Expand Insurance Solutions

CoverTree's Series A Funding

Key Highlights:

• Series A Funding: Raised $13 million in Series A funding.
• Investors: Led by Portage, with participation from AV8, Distributed Ventures, Detroit Venture Partners, Ludlow Ventures, Annox Capital, and others.
• Specialty Insurance Solutions: CoverTree focuses on digital distribution, automated underwriting, and data-driven pricing for specialty personal lines of insurance, with a focus on manufactured home insurance.

CoverTree's Target Market

• Target Market: Homeowners and property managers in states where CoverTree's manufactured home insurance product is available.
• Manufactured Homeowners: Individuals who own manufactured homes in Arizona, Michigan, Indiana, New Mexico, Ohio, Illinois, Tennessee, Texas, Arkansas, South Carolina, Kansas, Oklahoma, Georgia, and Alabama.
• Property Managers: Professionals responsible for managing residential properties, including manufactured home communities.

What CoverTree Needs to Buy

• Software Development: Resources to further build out their enterprise suite, including resident insurance management software for property managers, binding and underwriting platforms for independent agents and lenders, and automated underwriting and quoting systems for insurance book conversions.
• Marketing and Sales Support: Services to help expand their reach and increase awareness of their insurance solutions among homeowners and property managers.
• Partnerships: Collaborations with insurance agencies, agents, and lenders to expand their distribution network and reach more customers.

Sorted raises £1.65M in Seed Funding for Recycling Tech

Summary: Sorted, a recycling tech startup based in the UK, recently secured £1.65M in seed funding to revolutionize waste management and recycling. Their AI-powered sorting solutions aim to improve the efficiency of recycling processes and contribute to a more sustainable future.

Funding Amount: £1.65 million

Industry: Software Development

Employee Count: 51-200

CEO: Carmen Carey (CEO Linkedin)

What Sorted needs to buy: Sorted is seeking partnerships with waste management companies, recycling industry leaders, and environmental organizations. Companies specializing in AI technology, sustainability solutions, and waste management systems are ideal partners to support Sorted's expansion plans and drive innovation in the recycling industry.