Participated · Series A · May 2024

CoverTree builds digital distribution, automated underwriting, and data-driven pricing specifically for manufactured-home insurance. Its core product is a manufactured-home insurance offering available across multiple U.S. states, and the company emphasizes transparency, simplicity, and personalization. CoverTree is expanding beyond consumer policies into an enterprise suite that will include Maple (resident insurance management software for property managers), Bonsai (a binding and underwriting platform for independent agents and lenders), and Sequoia (an automated underwriting and quoting system for insurance book conversions). The company says its distribution technology can reach manufactured-home residents in relatively rural parts of the U.S. without running marketing ads. CoverTree highlights a large addressable market with over 22 million Americans living in manufactured homes and notes that 11% of new single-family homes in 2022 were manufactured homes. The company is headquartered in Detroit, Michigan, and its manufactured-home product is available in Arizona, Michigan, Indiana, New Mexico, Ohio, Illinois, Tennessee, Texas, Arkansas, South Carolina, Kansas, Oklahoma, Georgia, and Alabama. CoverTree is an insurtech MGA focused on bringing digital distribution, automated underwriting, and data-driven pricing to specialty personal lines with an initial focus on manufactured homes. The company has launched its manufactured home product in Arizona, Indiana, Michigan, New Mexico, Ohio, Illinois, and Tennessee. CoverTree built its program in close collaboration with Markel, with coverage provided by Markel Insurance Company, and emphasizes building proprietary data sets and automated underwriting to address sparse data in the segment. The company plans to use recent funding to grow the team, expand into additional states and product lines, invest in distribution portals, and further automate underwriting. CoverTree positions itself to modernize an underserved market and to support rural and outdoor lifestyles through a full digital insurance experience.

Participated · Seed · Oct 2022

Hush offers a comprehensive digital privacy service that leverages proprietary AI to protect members' full digital footprints and highlight vulnerabilities. The platform monitors and provides protection against 1,200 data brokers and social media platforms in the United States. Hush's AI identifies issues and helps members implement solutions proactively, aiming to prevent theft, fraud, and hacking before problems arise. The company plans to use new funding to further develop its proprietary AI technology and expand commercial activities. Leadership positions Hush as a benefit employers can offer to safeguard employees and their families, and as a scaled privacy solution for both individuals and organizations.

Participated · Series B · Mar 2021

Sakara Life operates a direct-to-consumer meal-delivery program focused on 100% organic, nutritionally-designed plant-based meals, plus a digital marketplace with more than 30 branded functional snacks, supplements and ingestible wellness products. The company plans to expand beyond food into broader CPG categories, debuting a line of supplements and moving into beauty and personal care, while launching a mobile app and enhanced user interface. Sakara is investing in sustainable packaging (current packaging uses recycled water bottles and the company aims for 100% recyclable/compostable/biodegradable packaging by 2023), talent acquisition across its bi-coastal team, and a $1M give-back initiative over three years. Operational highlights in the articles include nearly 2 million meals sold in 2020, a workforce of 172 employees, nationwide availability, and offices in New York and Los Angeles. Financially, the company reported turning a $5M 2015 raise into immediate profitability within one year, delivering 15x revenue growth to date, and is expected to approach $150 million in profitable revenue this year. The new funding is intended to accelerate product innovation, technology, sustainability practices, and expansion of the company’s CPG arm. Sakara Life offers organic, nutritionally-designed, plant-based ready-to-eat meals delivered to customers' doors and operates a Clean Boutique retail line of more than 30 functional food products. All meals are free of dairy, gluten, pesticides, chemicals, additives, preservatives, flavorings and dyes, and the company consults nutrition experts, chefs and an advisory board that includes Bobby Flay. Customers can sign up for 3-day or 5-day meal programs and choose either a single "Taste it" option or a recurring weekly "Live it" subscription starting at $69 per day. Founded in 2012, Sakara expanded from initial NYC shipments to the Northeast, the West Coast in 2015, and has announced nationwide availability; it maintains offices in New York and Los Angeles. As of January 2016 the company was on track to deliver nearly 40,000 meals monthly and expected sales to double in 2016. Sakara reports it built a sustainable, profitable business since launch and aims to use additional capital to continue expansion and remove barriers to access for its programs.

Participated · Equity · Aug 2018

Evolve is a Denver, CO–based vacation rental hospitality company led by CEO Brian Egan. It manages over 19,000 homes across more than 750 markets. The company has generated more than $2 billion in rental income for its owners. Evolve raised $100M in funding in a round led by Durable Capital Partners. The company intends to use the funds to expand operations and its business reach. This latest round brings Evolve’s total funding to $235 million. Evolve operates a tech-enabled vacation rental management platform that handles marketing, bookings and provides homeowners the option to configure on-the-ground services via a vetted network of local partners. Founded in 2011 by CEO Brian Egan, the company manages a portfolio of more than 9,000 properties across over 500 markets in North America. To date Evolve has secured over $350m in rental income for its owners. The company reported triple-digit annual growth and aims to use new capital to support that growth and enhance its core offerings. Evolve is focused on further developing its technology-enabled services platform to scale operations and homeowner services. Its model combines centralized marketing and booking with local service options for property owners. Evolve operates a tech-enabled rental management platform focused on marketing and booking vacation properties while offering owners the option to configure on-the-ground services. The company currently services more than 4,000 properties in over 500 markets across North America and has secured over $150m in gross bookings for its owners. It plans to use new funds for expansion and continued development of its services platform. Evolve has raised $23m in total funding to date. The platform combines marketing, booking and optional local services to drive owner bookings and revenue. The company was founded in 2011 by Brian Egan and Adam Sherry and is based in Denver, Colorado. Evolve provides a full-service vacation rental management product that creates listings optimized for online booking performance, promotes properties on major marketplaces and its own site, responds to traveler inquiries seven days a week, secures bookings online and offline, and handles pre- and post-stay guest communication. The company currently services more than 2,000 vacation rental properties across North America and has booked over 55,000 trips since launch. Evolve plans to use new capital to expand its team and to fuel marketing efforts aimed at the estimated 10 million vacation homeowners in North America. Financially, the company reported a $5.5M funding round and has raised $12M in total to date. The service targets homeowners who want an end-to-end solution for generating rental income without managing day-to-day operations themselves. Evolve was founded in 2011 by Brian Egan and Adam Sherry and is based in Denver, Colorado. Evolve Vacation Rental offers a white-glove service to help homeowners list and market vacation properties online. The company conducts phone consultations, gathers property information and photos, writes SEO-friendly copy, and lists properties across HomeAway, VRBO, FlipKey and its own site. It handles inquiries, takes payment, uses online rental agreements to eliminate faxing, and runs A/B split tests on listings. Evolve does not provide on-the-ground services like cleaning or maintenance but helps homeowners contract those services. Homeowners pay no upfront listing fees; Evolve takes a 10% fee only if it rents the property. Founders Brian Egan and Adam Sherry were early employees at Exclusive Resorts. The startup closed a $530,000 seed round last May from angel investors including Kevin Willer, Andrew Houser, and John Anderson.

Participated · Series B · Nov 2016

Handshake is the career network for the AI economy. 20 million knowledge workers, 1,600 educational institutions, 1 million employers (including 100% of the Fortune 500), and every foundational AI lab trust Handshake to power career discovery, hiring, and upskilling, from freelance AI training gigs to first internships to full-time careers and beyond.