Security News > 2021 > March > Cyber Insurance Provider Corvus Raises $100 Million
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.
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.
"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.