Cyber insurance provider Cowbell Cyber today announced that it has secured $100 million in Series B funding. The company previously raised $23.6 million.
The latest investment round was led by Anthemis Group. All previous investors participated as well, along with NYCA Partners, Permira, PruVen Capital, and Viola Fintech.
The company plans to use the funds to fuel go-to-market expansion, along with risk engineering and claims management capabilities.
Founded in 2019, the Pleasanton, California-based company offers an AI-assisted, continuous underwriting platform aimed at small and medium businesses (SMBs), benchmarking risk exposure against a risk pool of more than 23 million businesses.
Claiming to have created the largest cyber insurance distribution network in the United States, the company leverages artificial intelligence, actuarial models, and continuous assessment for policy customization.
Earlier this year, the company launched Cowbell Re, a cyber insurance captive that enables Cowbell to meet increasing demand and help policyholders ensure cyber resilience.
“As we position ourselves to lead the ‘second wave’ of cyber insurance growth, this funding will accelerate our pioneering approach to cyber risk underwriting and drive growth and profitability while closing insurability gaps,” Jack Kudale, founder and CEO at Cowbell Cyber, said.