Cyber insurance provider Corvus on Wednesday announced that it has raised $100 million in a Series C funding round. To date, the company has raised a total of $147 million.
Founded in 2017 and headquartered in Boston, MA, Corvus relies on artificial intelligence for data analysis and for loss prediction and prevention.
The company has a broker-focused approach to cyber-insurance and claims to be able to fully meet the needs of brokers, policyholders, underwriters and reinsurers.
Following a $33 million Series B round closed in January 2020, Corvus says it has tripled the number of employees and reached a $120 million annual premium run rate at the end of January 2021.
Led by private equity firm Insight Partners, the new funding round brings Corvus’s valuation up to $750 million.
The new funding, the company says, will help it accelerate product development, underwriting, and go-to-market strategies, while allowing it to expand its Crowbar digital platform. Corvus also plans to focus on the delivery of advanced broker-focused solutions and on further expanding its team.
“During these times of unprecedented cyber-attacks, we are arming brokers and their policyholders with the most intuitive tools and capabilities to mitigate risks for companies of all sizes. With the biggest fundraising round of a cyber-insurance company to date, we will continue to realize our vision in making our world a safer place,” Phil Edmundson, founder and CEO of Corvus, commented.
Related: OwnBackup Achieves ‘Unicorn’ Status With $167.5 Million Funding Round
Related: Tanium Announces $150 Million Funding Investment From Ontario Teachers’
Related: DevSecOps Firm Spectral Emerges From Stealth With $6.2 Million in Funding
More from Ionut Arghire
- Former Ubiquiti Employee Who Posed as Hacker Pleads Guilty
- Atlassian Warns of Critical Jira Service Management Vulnerability
- Exploitation of Oracle E-Business Suite Vulnerability Starts After PoC Publication
- Google Shells Out $600,000 for OSS-Fuzz Project Integrations
- F5 BIG-IP Vulnerability Can Lead to DoS, Code Execution
- Flaw in Cisco Industrial Appliances Allows Malicious Code to Persist Across Reboots
- HeadCrab Botnet Ensnares 1,200 Redis Servers for Cryptomining
- Malicious NPM, PyPI Packages Stealing User Information
Latest News
- Fraudulent “CryptoRom” Apps Slip Through Apple and Google App Store Review Process
- US Downs Chinese Balloon Off Carolina Coast
- Microsoft: Iran Unit Behind Charlie Hebdo Hack-and-Leak Op
- Feds Say Cyberattack Caused Suicide Helpline’s Outage
- Big China Spy Balloon Moving East Over US, Pentagon Says
- Former Ubiquiti Employee Who Posed as Hacker Pleads Guilty
- Cyber Insights 2023: Venture Capital
- Atlassian Warns of Critical Jira Service Management Vulnerability
