Corvus Insurance extends Series C round by $15m

Corvus Insurance has extended its Series C round by $15m, bringing the round’s total to $115m.

This fresh burst of funds was led by FinTLV and Aquiline Technology Growth.

The InsurTech previously bagged $100m for its Series C in March, with Insight Partners acting as the lead investor. Corvus was valued at $750m following the funding round.

Corvus hopes the support of its new investors will enable it to expand its market share, enter new commercial lines and further its scaling efforts. The InsurTech is also looking to double its headcount during 2021.

The InsurTech leverages AI and machine learning to analyse unique and proprietary sets of data to better predict and prevent loss. This approach ensures policyholders, brokers, underwriters and reinsurers can incorporate data science into the dybamic commercial insurance marketplace.

FinTLV managing partner Mark Chess said, “The best InsurTech success stories are the companies that actually understand the insurance business, and in particular, distribution. Corvus has a strong team that truly understands the commercial insurance business.

“We feel that Corvus is best positioned to succeed in the space because of its approach, its underwriting technology, and its ability to execute with a distribution-first partnership with brokers, enabling the brokers to sell complex policies to growing businesses.”

Corvus has raised a total of $162m in equity.

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