Toronto-based cyber insurance specialist BOXX Insurance has acquired cyber intelligence platform Templarbit.
Terms of the deal were not disclosed, but BOXX said it gave the firm ‘additional momentum’ to pursue its vision of ‘making the world a digitally safer place’.
With teams in Palo Alto and Los Angeles, Templarbit was founded by Bjoern Zinssmeister in 2017. Templarbit has built technology that alerts companies when their platform identifies vulnerabilities in their network that hackers can exploit.
The platform autonomously discovers, classifies, and analyses an organisation’s digital assets, the unique risk profile for each digital asset, and the real business costs that would be incurred if a digital asset was compromised.
Vishal Kundi, co-founder and CEO of BOXX, said: “Bringing Templarbit’s team and technology in-house was a natural next step for us. It shows how strategically important we believe proactive cyber risk protection is to the continued growth of our business. We are excited to welcome Bjoern and the Templarbit team to BOXX.”
This is another new development for BOXX, which said in July that it had appointed Eric Newman as its chief operating officer and Steve Penney as chief technology officer.
At the time, the firm said that Newman would support the development of BOXX’s strategic growth agenda leading strategic planning, governance, legal, and compliance functions. As chief technology officer, Penney was said to lead BOXX’s technology and data strategy, leading BOXX’s growth and market expansion.
