Today we are thrilled to announce Corvus has secured $32 million in Series B venture funding. The round is led by Telstra Ventures, with participation from Obvious Ventures as well as existing Corvus investors including .406 Ventures, Bain Capital Ventures and Hudson Structured Capital Management. Marcus Bartram, Partner at Telstra Ventures, will join our Board of Directors.
With this latest round of funding, we will continue growing within our existing product lines as well as accelerating the development of new technologies and tools to improve risk management, particularly to meet the needs of larger clients dealing with complex cyber risk.
We believe that commercial insurance has failed both brokers and policyholders when it comes to cyber risk, and we are obsessed with changing that outcome. We see a future where brokers act as educated advisors on cyber risk, armed with better options for risk assessment, coverage and risk management for their clients. Empowering brokers to provide this level of service to clients of all sizes, large and small, is how we at Corvus will make the world safer. We are so pleased to have the support of investors who share in this vision.
With three years under our belt, the Corvus story is off to a thrilling start and 2019 was by far our most exciting chapter yet.
Mike Karbassi is Vice President and Head of Cyber Underwriting at Corvus. He specializes in Network Security, Privacy Liability, Technology E&O, Media Liability, and Miscellaneous Professional Liability. Karbassi has over a decade of experience in insurance and is a graduate of the Boston University Questrom School of Business.
Gerritt is the Chief Commercial Officer at Corvus. He has over 20 years of sales and marketing experience, primarily focused on technology and data solutions for the financial services industry.
James co-founded Corvus and is the company’s Chief Technology Officer. A 30+ year technology veteran, Jaimie most recently served as CTO of Iora Health and previously co-founded Gazelle.
Mike Lloyd is the Co-Founder and Chief Product Officer of Corvus Insurance. Previously, Mike co-founded Poncho, a personal lines agency InsurTech startup, and was a venture investor at FJ Labs. Mike has an MBA from Harvard Business School and engineering degrees from Virginia Military Institute and MIT.
Phil is the founder and CEO of Corvus. A 30+ year insurance veteran, Phil co-founded broker William Gallagher Associates (acquired by Arthur J Gallagher in 2015) and was an active leader in both the Worldwide Broker Network and Council of Insurance Agents and Brokers. Phil is the Managing Partner of Edmus Ventures where he invests in InsurTech companies including Verifly, Wellthie, Agentero, and Cover Wallet, and serves on the board of Cover Wallet.