July 30, 2024 at 06:12AM
Cyber insurance firm Cowbell secures $60 million in Series C funding from Zurich Insurance Group, bringing total funding to over $200 million. The Pleasanton, CA-based company provides adaptive cyber insurance for SMEs with its AI-powered, continuous underwriting platform. They plan to use the investment to expand internationally, introduce new products, and strengthen partnerships.
From the meeting notes, here are the key takeaways:
– Cowbell, a cyber insurance firm, has successfully raised $60 million in Series C funding from Zurich Insurance Group, bringing their total funding to over $200 million.
– The company offers adaptive cyber insurance to small and medium-sized enterprises (SMEs) with their AI-assisted, continuous underwriting platform.
– SMBs can utilize the Cowbell Factor rating index to assess their cyber risk and obtain insurance coverage tailored to their specific security threats.
– Cowbell provides services such as cyber risk warnings, continuous risk assessment, and premium incentives for policy makers to enhance their security stance.
– With the new investment, Cowbell plans to scale operations, expand to international markets, introduce new products, and strengthen partnerships. They also aim to leverage AI and generative AI to enhance their technological infrastructure.
– Cowbell founder and CEO, Jack Kudale, highlighted a focus on product expansion to deliver advanced cyber insurance solutions to SMEs and mid-market businesses globally, to help them navigate the evolving cyber landscape.
– Cowbell has a presence in various countries and provides cyber insurance to SMBs in all 50 US states, the District of Columbia, and the UK.
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