CoverTree Expands Bonsai Agent Portal — Announced Live at Crain’s Detroit Homecoming

Published on Wednesday September 17, 2025

Detroit has long been a city of builders and innovators, and CoverTree is proud to carry that spirit forward. At this year’s Crain’s Detroit Homecoming, we announced that our Bonsai Agent Portal now supports more than 8,000 agents across 15 states, with new state launches in Kentucky, California, and North Carolina on the horizon.

Detroit Roots, National Reach

Headquartered in Detroit, CoverTree is reimagining what specialty insurance can be. The city has always been home to bold ideas that shape industries — and today, Detroit is helping fuel the future of affordable housing and insurance. That’s why we’re especially proud to make this announcement on stage in our hometown, surrounded by the community that has supported our growth since day one.

Detroit Venture Partners (DVP), part of our $13 million Series A investment round, embodies the same belief we do: that Detroit isn’t just a city on the comeback, but a launchpad for companies that will change entire industries. With DVP’s support — alongside other leading investors — CoverTree has been able to scale Bonsai into a platform that empowers thousands of agents and connects consumers to insurance solutions faster and with greater transparency.

Why Bonsai Matters

The manufactured housing market is expanding at record pace. According to industry data, shipments of new manufactured homes grew 7.2% year-to-date through April 2025 compared to 2024, with more than 35,600 homes produced in the first four months alone. By mid-2025, shipments climbed past 106,000 units annually — up from roughly 89,000 in 2023. This means more homeowners entering the market at a faster pace than ever before.

Manufactured homes are also one of the most affordable housing options in America, costing on average 66% less per square foot than site-built homes. Construction is 40–50% faster than traditional housing, allowing communities to address the affordability crisis with urgency. Yet despite the growth, insurance for these homes has historically been underserved and outdated.

Bonsai changes that. For homeowners, this expansion means more trusted local agents can offer CoverTree coverage on the spot — without delays, endless paperwork, or confusing processes. For agents, Bonsai delivers modern digital tools to streamline quotes, binding, and underwriting, helping them meet consumer expectations for speed and clarity.

Proof in Numbers

• 8,000+ agents now onboarded to Bonsai, spanning 15 states and representing top partners like Goosehead, First Connect, Appalachian Underwriters, and Johnson & Johnson.
• Launching into 3 additional states in the next 6 months (Kentucky, California, and North Carolina) to broaden reach.
• Manufactured housing already provides homes for 22 million Americans — and demand is climbing.
• In 2024 alone, shipments rose 16% year-over-year, highlighting how quickly this market is scaling.

CoverTree has raised $32.5 million to date, fueling growth of Bonsai and other enterprise products like Maple (AI lease compliance) and Sequoia (automated underwriting).