Cowbell Cyber Raises $100 Million in Series B Financing; Plans to Upgrade the Reinsurance Arm and Data Science Capabilities

There are many factors that make a human life special, but few are as prominent as the concept of potential. You see, even though it might not be apparent all the time, the potential of a human life remains limitless in every imaginable situation. This realization has encouraged us to make some bold bids for growth over the years. However, if we are being honest, it won’t get its biggest result until we discover a particular tool called technology. Technology gets to sit on top here for reasons that are purely meritorious. Since arriving on the scene, the creation has managed to raise the entire spectrum up a notch. Such a dynamic, as you can guess, would eventually segway into a reality where we’ll see the world moving with a different image altogether. In hindsight, we can say this new image has helped us expand beyond all known parameters, except it is still pretty far from pulling the brakes. The same is backed up well by our recent moves, and Cowbell Cyber’s latest funding should only solidify the fact even more.

Cowbell Cyber, full-stack insurance company that provides cyber insurance to SMEs, has officially secured over $100 million in Series B financing. According to certain reports, the company plans to dedicate the new cash injection towards the improvement of its in-house data science and risk engineering setup, claims management capabilities, and underwriting technology. Apart from that, Cowbell Cyber is expected to significantly upgrade its reinsurance business, Cowbell Re, while also making a run to expand the company’s go-to-market channels. Founded in 2019, Cowbell has quickly taken over the burgeoning Insurtech landscape. At present, the company monitors over 71% companies in the US market, which loosely translates to 23 million businesses, for the purpose of studying integral trends and SMB behavior. Beyond that, Cowbell also performs monitoring analysis for individual customers so to crunch out a better view of their individual risk profiles. Talk about other details related to the funding round, it was led exclusively by Anthemis Group.

“With its unique approach to cyber risk underwriting and continued collaboration with cybersecurity suppliers, Cowbell Cyber has positioned itself as the leader in the cyber insurance space for SMEs,” said managing director at Anthemis Group, Matthew Jones, who is set to join Cowbell’s board as a part of the agreement. “The company has accomplished stellar results to date and we are thrilled to be a part of their next chapter.”

As far as future plans are concerned, Cowbell is projecting a threefold increase in its policy-holder base over the next 12 months. The goal is surely ambitious, but with the current cyber insurance market only having 10% of small businesses, it has a real shot at coming to fruition.

 

Share

Related

Carving Out a New Slice in the Pie

Human beings are known to be good at a...

Reaching Out to the World and Beyond

When you step back and assess human progression from...

Rethinking the Streaming Space

The human arsenal tends to possess a wide assortment...

Cutting the Shipping Game Wide Open

The reshuffling of power scales is a part of...

Going Big on the Space Game

One of our greatest strengths resides in the fact...

Running the Big Tech Race

The human arsenal might be expansive beyond all known...

Rethinking the Future on Wheels

As much as we try to fulfill them, there...

The Converged Evolution of HPC, AI and Quantum

High performance computing (HPC) is commonly applied by organisations...

Dubai wins bid to stage Critical Communications World 2024

The Dubai Government’s Secure network provider Nedaa will...

Latest