FifthWall Solutions has announced the closing of a $5 million Series-A funding round. The investors were not dislosed by the company, which says the round will support product development and other growth initiatives. FifthWall describes itself as a “leading cyber insurance wholesaler and consulting firm with direct access to 50+ carriers, (that) partners with MSPs to help their clients better navigate the cyber insurance process…”
In conjunction with the raise, FifthWall appointed Cole Knuth as Chief Executive Officer and Gene Stevens as Chief Technology Officer. Knuth most recently served in senior executive roles at Pax8, a “tech marketplace” serving MSPs and other customers. “Our mission is to disrupt the cyber insurance landscape with innovative solutions that redefine how organizations protect themselves,” said Knuth in the company’s press release on the raise.
The investment highights the role of cyber insurance wholesalers in linking insurance carriers to MSPs, agents and other market players seeking to sell or support cyber insurance policies.
Investments in the cyber insurance sector appear to us to have slowed in the second half of 2023, likely pulled down by the dramatic decline in investments in the broader insurtech sector last year. Insurtech investments appear to be rebounding from 2023, which may provide some tailwind for the cyber insurance sector.
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