Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has raised $60 million in Series C funding from Zurich Insurance Group. The funding will help Cowbell scale operations, expand internationally, enhance cyber resilience services, and introduce new products.
The investment will allow Cowbell to leverage AI and GenerativeAI (GenAI) to optimize its technological infrastructure and improve decision-making for policyholders and brokers. Zurich’s support reflects its commitment to offering advanced cyber protection and resilience solutions, especially for SMEs and mid-market segments facing increasing cyber risks.
“Major Concern”
“Cyber threats remain a major concern for business leaders due to their constantly evolving nature. To address this, we continue to invest in enhancing our cyber capabilities and building a strong support system for our customers. Cowbell is an excellent partner for managing cyber risks,” said Sierra Signorelli, CEO of Commercial Insurance at Zurich. “They use a data-centric approach to risk management, provide continuous risk assessments, actively monitor threats, and have strong underwriting expertise. And all of this is centered around a highly advanced digital platform designed to boost cyber resilience for their customers,” Signorelli added.
Jack Kudale, founder and CEO of Cowbell, expressed confidence in the impact of Zurich’s investment. “This investment from Zurich is the strongest endorsement of Cowbell’s vision and capabilities yet and deepens our footprint in the global cyber insurance market. With a refined focus on product expansion, we will accelerate our efforts to deliver advanced and efficient cyber insurance solutions to SMEs and mid-market businesses globally, ensuring they have the protection and tools they need to navigate the rising threats in the evolving cyber landscape.”
Threefold Increase
Cowbell’s has seen a threefold increase in licensed producers over the past two years. The company aims to reinvest in advancements in AI and GenAI to bring greater transparency to cyber risk, facilitate smarter decision-making, and raise cyber resiliency standards for brokers and businesses.
This investment marks a milestone in Cowbell’s growth following a year of geographic and product expansion and technological advancements. With a total of $202 million raised to date, Cowbell plans to continue to focus on protecting, educating, and empowering SMEs and mid-market businesses against cyber threats.
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