Corvus Insurance eyes new funding round as it goes into the new year

Corvus Insurance, a platform helping brokers and policyholders better predict and prevent risk, has raised up to $31m in a new funding round.

The InsurTech has secured investments from 14 undisclosed investors, a new filling it has issued with the US Securities and Exchange Commission states. It is unclear whether the firm is looking to close the round, but the form indicates it has a $33m goal for the round.

Corvus is an AI-powered insurance solution which helps commercial insurance brokers and policyholders to better predict and mitigate risk by utilising new forms of data.

Last year, the company updated its cyber underwriting to improve policies for those with security measures in place. Its Smart Cyber Insurance policy protects a business for losses caused from phishing or other deception tactics, with more coverage limits being given to those with security measures in place.

The InsurTech made a big push for expansion last year, opening four new US offices. Corvus now has locations in Boston, Atlanta, Dallas, Los Angeles, New York and Chicago.

Corvus also secured a $10m investment round last year from backers including .406 Ventures and Hudson Structured.

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