UK-based KYND, a provider of cyber risk management solutions, has secured an undisclosed amount in funding from data and technology provider Verisk, and BGF, an existing backer and experienced growth capital investors in the UK.
Andy Thomas and Melanie Hayes founded KYND in 2018. Since then, it has developed a cyber risk monitoring platform designed to deliver instantaneous and continuous insights into the cyber risk profile of any organisation.
By offering actionable, and transparent cyber risk intelligence KYND supports informed and rapid decision- making across the cyber ecosystem.
The firm aims to use Verisk’s and BGF’s investment funds to propel the business expansion, as well as continuing to develop transformative cyber risk technology.
Andy Thomas, chief executive of KYND, said: “The threat of cybercrime is rising; attacks are now a question of “when” not “if” and the risk of these occurring has knock-on effects across the broader landscape.
“At KYND, we are committed to creating best-in-class, efficient and insightrich tools that not only remove complexity & jargon, making cyber risks easy to identify, monitor and remediate but also enable rapid decision making in this dynamic ecosystem. We are excited to continue working with BGF and look forward to welcoming the Verisk team as we execute on our ambitious growth plans.”
KYND had secured its first Series A funding from BGF in early 2022, since the, it has extended its comprehensive suite of cutting-edge products and industry focussed solutions which are used by leading insurers and brokers, such as Beazley, Howden, and Alliant, and private equity firms such as Phoenix Equity Partners.
Additionally, it has also successfully expanded into the US with a dedicated team now based in Austin, Texas.
Rowan Bird, investor at BGF, commented: “KYND has developed an industry-leading platform that provides actionable insights on cyber risk posture. The business has demonstrated impressive growth and this new investment demonstrates our belief in the long-term potential of the company as it continues to scale.”
Verisk’s investment in the business provides an exit for CPP, a UK based provider of assistance and insurance products, which has backed the business since 2018.
Tim Rayner, president of Specialty Business Solutions at Verisk, stated: “Helping our clients address the risks associated with cyber events is one way we build resilience for the global insurance industry. We are excited to support KYND and find new ways of working together in support of Verisk’s clients in the global insurance market.”
