Reinsurance News

Munich Re-backed At-Bay raises $34mn in Series B round

24th February 2020 - Author: Charlie Wood

At-Bay, a cyber insurance start-up writing policies through Munich Re’s HSB Specialty Insurance Company, has announced a $34 million Series B funding round.

cyber-securityLed by Munich Re Ventures and Acrew Capital, the new investment brings At-Bay’s total funding to $51 million.

At-Bay offers continuous vulnerability monitoring across the perimeter of each portfolio company and has claimed to have helped over 9,000 companies secure their systems against impending attacks in 2019.

“The deck is stacked against small business owners, who are on their own to defend their organizations from international crime syndicates and state actors,” said Rotem Iram, co-founder & Chief Executive Officer of At-Bay.

“Here at At-Bay, we are building a new kind of insurance company, designed from the ground up to manage the unique risks associated with doing business in the digital age. We are the partner our clients can rely on to navigate cyber risk, completely financially aligned with their business to help them stay secure.”

Mark Kraynak, Founding Partner of Acrew Capital, added, “Every company will need cyber insurance to help manage the risks of doing business in the digital age.

“At-Bay has built the leading platform in the space, delivering two new products and rapidly accelerating growth in 2019. We are excited to partner with them to carry that momentum forward.”

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