Business insurance startup CoverWallet has closed a $18.5 million Series B funding round led by Foundation Capital with participation from existing investors Union Square Ventures, Index Ventures, CV Starr, and Two Sigma Ventures.

As part of the funding, Charles Moldow, partner at Foundation Capital, joins John Buttrick from Union Square on the company’s board of directors.

Since launching in 2016, CoverWallet has raised $30 million to date.

[Image courtesy: CoverWallet ]