Cyber insurance firm Cowbell has raised $60 million in Series C funding from Zurich Insurance Group, bringing the total raised by the company to over $200 million.
Founded in 2019, the Pleasanton, CA-based company provides small and medium-sized enterprises (SMEs) with adaptive cyber insurance, powered by its AI-assisted, continuous underwriting platform.
SMBs can use the company’s Cowbell Factor rating index to evaluate their cyber risk and get the insurance coverage that matches their security threats.
Cowbell, which seeks to protect and educate SMBs from existing and emerging threats, offers cyber risk warnings, continuous risk assessment, a closed-loop approach to risk management, and premium incentives for policy makers to improve their security stance.
The company plans to use the new investment to scale operations, expand to key international markets, introduce new products, and strengthen its partnerships.
Furthermore, it will leverage the latest advancements in AI and generative AI to expand its technological infrastructure.
“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,” Cowbell founder and CEO Jack Kudale said.
Cowbell has employees in the US, Canada, the UK, and India and provides cyber insurance to SMBs in all 50 US states, the District of Columbia, and the UK.
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