BLUECYBER, a managing general agent (MGA) specialising in cyber insurance, has secured a significant $1.5 million investment from venture capital firms Invisto and Bossa Invest, alongside support from investors within the insurance market.
Eduardo Rocha, CEO of BLUECYBER, expressed enthusiasm about the investment, stating, “This investment reflects the investors’ confidence in Bluecyber’s mission to simplify and expand insurance coverage for digital life protection of SMEs and families throughout Latin America, an underserved market with an estimated gross written premium (GWP) of USD 17.3 billion.”
One notable outcome of this investment is BLUECYBER’s acquisition of ISMAC, a cybersecurity company offering various products and services such as ISMAC USM, an integrated security monitoring and compliance management platform for managing enterprise security and mitigating modern cyber threats.
This strategic move enables Bluecyber to bolster its capabilities in proactively monitoring its insured portfolio, swiftly identifying and addressing security incidents.
Daniel Arruda, Co-Founder and CEO of ISMAC and Co-Founder of BLUECYBER, emphasised the significance of this integration, stating, “This solution allows BLUECYBER to continuously monitor its insured portfolio, detecting and responding to security incidents swiftly and efficiently, minimising the impact of attacks, and delivering more value to the insured, as well as reducing the frequency and severity of claims.”
Claudio Macedo, Co-Founder of BLUECYBER, expressed optimism about the future prospects of the company: “We are confident that this new phase will be a watershed in the cyber insurance industry, offering innovative and comprehensive solutions.”
