Some serious money has been sent the way of various insurance startups over the past week. Investors backed cutting-edge commercial lines and cyber insurance products as well as advances in texting communications, producer management and licensing compliance, and digital risk management for financial institutions.
Here’s a wrap-up of some recent major funding commitments as reported by Carrier Management.
Major Haul
Corvus Insurance is prepping a major expansion and surge in its commercial lines and cyber product development now that it has secured $100 million in new venture capital financing.
Insight Partners led the Boston startup’s Series C funding round, with participation from Telstra Ventures, Obvious Ventures, .406 Ventures, Bain Capital, Hudson Structured Capital Management and MTech Capital.
“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,” Corvus CEO and founder Phil Edmundson said in prepared remarks.
Corvus, launched in 2017, is a managing general agency providing commercial insurance products through artificial-intelligence-driven risk data. The…
