Israel-headquartered cyber risk modeller Kovrr has raised $5.5 million in a funding round led by StageOne Ventures and Mundi Ventures.
Kovrr intends to use the capital on product development and to help accelerate global growth.
“Cyber attacks cause billions of dollars of damage and currently affect every category of risk,” said Kovrr’s Chief Executive Officer, Yakir Golan.
“Kovrr’s unique approach leverages data science and predictive analytics to deliver powerful and actionable capabilities that our clients need to grow their businesses and confidently act on their cyber risk management decisions,”
“The recent funding allows us to further expand our commercial reach, data harvesting and predictive modeling capabilities.”
Golan co-founded Kovrr alongside Chief Risk Officer Shalom Bublil and Vice President of Research and Development Avi Bashan.
The company aims to provide underwriters, exposure managers and risk professionals the visibility needed to keep up with a rapidly changing cyber risk landscape by quantifying potential financial loss caused by various types of cyber events
The platform uses open-source, proprietary and third-party business and threat intelligence data to train predictive cyber risk models.