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Insurtech secures $32 million in venture funding

 Insurtech secures $32 million in venture funding

Insurtech firm Corvus Insurance Holdings Inc. said Thursday it has secured $32 million in venture funding.

The Boston-based managing general underwriter said the round is led by Sydney, Australia-based Telstra Ventures Pty. Ltd. with participation from San Francisco-based Obvious Ventures and existing Corvus investors.

The latest cash infusion brings Corvus' total funding to $46 million since its 2017 founding, according to a spokesman.

Corvus said in its statement that with the new funding it will continue to grow existing product lines as well as accelerate the development of new technologies and tools to improve risk management, particularly to meet the needs of larger clients that deal with complex cyber risk.

Telstra Ventures partner Marcus Bartram will join Corvus’ board of directors, according to the statement.

Corvus Insurance said in October it is increasing its limits for its broad-form social engineering and cybercrime coverages.