The Source for Cyber Insurance News, Insights and Data
Eye Security, a subscription-based cybersecurity and insurtech company, lands $17m+ round led by Bessemer Venture Partners. Partner Alex Ferrera notes on Twitter: “We’re betting cyber insurance + XDR (Extended Detection and Response) combined is the future.” Source: Dutch cybersecurity, insurtech startup Eye Security bags €17M to help SMEs fight cyberattacks | Silicon Canals
Financial terms of the transaction were not released. Boxx appears to have wanted the target’s cybersecurity talent as well as the company & its IP. Templarbits CEO/co-founder will head up Boxx’s new R&D effort. “…BOXX has announced the acquisition of Templarbit and the creation of a new R&D Division to deliver effective … Read more
The cyber insurance industry needs reinsurance capital to keep growing. Coalition partnered with BDT Capital to form this independent Bermuda-based Class 3B reinsurer. “Joshua Motta, founder and CEO of Coalition, added, ‘The rapid growth of the cyber insurance industry has outpaced the supply of reinsurance capital. We’re excited for Ferian Re to bring alternative capital … Read more
The Indiana-based company reports a number of successful deployments, including one which allowed a non-profit to hold onto its cyber coverage after suffering two breaches before it retained SecondSight. “SecondSight’s platform autonomously discovers, classifies and analyses an organisation’s entire landscape of digital assets, the unique risk profile for each digital asset across thousands of different … Read more
Fintech VC Canapi Ventures led the round in Elpha, which claims to be the first cyber insurance startup “to combine proprietary cybersecurity software with coverage to improve risk transfer.” Fused cybersecurity/insurance platforms continue to appear, but Elpha is apparently differentiated enough for its well-known pre-A investors to join the round. According to the company, they’re: … Read more