Corvus Insurance, a Boston, MA-based provider of smart commercial insurance products powered by AI-driven risk data, secured $100m in Series C funding.
The round, which increased Corvus’s valuation to $750m, was led by Insight Partners, with participation from previous institutional investors. As part of the transaction, Insight Partners’ Managing Director Deven Parekh will join the Corvus Board of Directors, and Principal David Spiro will join as a Board Observer.
The company intends to use the funds to double down on its underwriting, product development and go-to-market strategies, while also further expanding its digital platform, the CrowBar®.
Led by Phil Edmundson, founder and CEO, and Mike Lloyd, Co-founder and Chief Product Officer, Corvus Insurance is a provider of commercial insurance products built on advanced data science, with an AI-driven approach to empowering brokers and policyholders to predict and prevent loss. With each Smart Commercial Insurance® policy, the company supplies proprietary Dynamic Loss Prevention® reports to inform policyholders of critical cyber risk areas and provide actionable security recommendations.