In a significant development for the cyber risk management sector, KYND, a pioneer in cyber risk management technologies, has announced a major investment. This financial backing comes from Verisk, a global leader in data analytics and technology, alongside continued support from BGF, a growth capital investor in the UK and Ireland.
Founded in 2018 by Andy Thomas and Melanie Hayes, KYND has emerged as a critical player in cyber risk assessment. They offer a platform that provides immediate and ongoing insights into an organization’s cyber risk posture. Its solutions facilitate informed decision-making within the cybersecurity ecosystem. This aids insurers, brokers, and private equity firms in navigating cybercrime risks effectively.
KYND’s innovative approach has not gone unnoticed, with the company bagging prestigious awards in 2023. These include the “Cyber Security Product of the Year” at the Risk Management Awards. They were also named the ‘Cyber Risk Management Solutions Provider’ at the Fintech Awards. The company’s growth trajectory since its Series A funding round in early 2022, led by BGF, has been steady. They have expanded their product range and established a foothold in the US market.
Less “Jargon”
Andy Thomas, CEO of KYND, emphasized KYND’s commitment to providing sophisticated yet user-friendly tools for managing cyber risks. “At KYND, we are committed to creating best-in-class, efficient and insight-rich tools that not only remove complexity & jargon, making cyber risks easy to identify, monitor and remediate but also enable rapid decision making in this dynamic ecosystem,” said Thomas.
BGF’s Rowan Bird and Verisk’s Tim Rayner expressed their enthusiasm for KYND’s future. They highlighted the company’s industry-leading platform and its potential to enhance resilience in the global insurance industry. Verisk said: “Helping our clients address the risks associated with cyber events is one way we build resilience for the global insurance industry. We are excited to support KYND and find new ways of working together in support of Verisk’s clients in the global insurance market.”
This investment underscores a reality for any business. Innovative solutions are critical in combating cybercrime and safeguarding digital assets in an increasingly interconnected world.
Source: KYND secures new funding to advance cyber risk management.
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