The world of business is changing rapidly and one of the most recent trends to emerge is the use of artificial intelligence (AI) to assess potential risks. Cowbell Cy M Series B to help expand its offerings and reach more customers. ber, a company that develops AI-driven risk assessment solutions for small and medium businesses, has just announced a $100 million Series B funding round led by Telstra Ventures.
This infusion of capital will help accelerate Cowbell Cyber’s mission to provide comprehensive cyber insurance to businesses in an increasingly digital world. With this new funding, they are poised to become a leader in the cyber security industry and revolutionize how businesses protect themselves from online threats. Read on to learn more about how Cowbell Cyber plans to use its new capital.
Cowbell Cyber raises $100M in Series B funding
Cowbell Cyber, which uses AI to assess risks and offer insurance for SMBs, has raised a $100M Series B. The round was led by Accel Partners, with participation from existing investors Clear Ventures and New Enterprise Associates (NEA).
The company will use the new funding to continue building out its product and go-to-market efforts. Cowbell Cyber CEO Inna Kuznetsova said that the company is focused on making it easy for SMBs to get cyber insurance and protecting them from the ever-growing number of cyber threats.
In addition to its insurance offerings, Cowbell Cyber also provides risk assessments and security guidance to help companies improve their cybersecurity posture. The company has offices in San Francisco and Philadelphia.
What Cowbell Cyber does
Cowbell Cyber uses AI to assess risks and offer insurance for SMBs. The company has raised a $100M Series B to help expand its offerings and reach more customers. Cowbell Cyber’s products are designed to help SMBs manage their cyber risks and protect their businesses from potential attacks. The company offers a variety of services, including risk assessment, insurance, and incident response.
How Cowbell Cyber uses AI
Cowbell Cyber uses AI to help assess risk and offer insurance for small businesses. The company announced a $100M Series B funding round led by Accel Partners today.
This marks Cowbell Cyber’s second investment from Accel, which led the company’s $4 million seed round in 2018. Other participants in the latest funding include American Family Ventures, Nationwide Ventures, and Flourish Ventures.
With the new capital, Cowbell Cyber plans to grow its team of 30 employees, with a focus on sales and marketing. The company will also continue to build out its product, which uses machine learning to analyze data points such as business size, industry vertical, and historical claims data to generate a risk score for each business.
Cowbell Cyber CEO Inga Frick said in an interview with VentureBeat that the company is currently working with about 50 insurers and has processed more than $1 billion in premiums through its platform.
Tim Keary VentureBeat This article was originally published on VentureBeat.
The benefits of Cowbell Cyber’s insurance for SMBs
Small and medium-sized businesses (SMBs) are the lifeblood of the American economy, accounting for more than half of all private sector jobs. But they are also the most vulnerable to cyberattacks, which are becoming more sophisticated and costly.
That’s where Cowbell Cyber comes in. The company uses artificial intelligence (AI) to assess a business’s cyber risks and offer insurance coverage tailored to its needs.
Cowbell Cyber’s insurance can help SMBs in several ways:
1. It can offset the costs of a breach, including expenses for investigation, notification, and credit monitoring.
2. It can help businesses recover from an attack by paying for the restoration of data and systems, business interruption losses, and other expenses.
3. It can provide peace of mind by knowing that you’re protected against the financial devastation that a cyberattack can cause.
For many SMBs, Cowbell Cyber’s insurance is an essential part of their risk management strategy. By protecting against the potentially catastrophic costs of a data breach or cyberattack, it helps them keep their doors open and their employees employed.
The future of Cowbell Cyber
Insurtech is one of the hottest sectors in the venture world right now, and Cowbell Cyber is one of the leading companies in the space.
Cowbell Cyber uses AI to assess risk and offer insurance for small and medium businesses. The company has just raised a $100M Series B round of funding, led by XL Innovate, with participation from Nationwide Ventures and Liberty Mutual Strategic Ventures.
This latest round of funding will be used to further develop Cowbell Cyber’s technology platform and expand its team. With this new capital, Cowbell Cyber is well-positioned to continue its growth and help more SMBs protect themselves against cyber risks.
Conclusion
Cowbell Cyber’s impressive $100M Series B round demonstrates the potential of AI for assessing risk and providing insurance for SMBs. This is an exciting development in the realm of cyber security, as it provides a unique way for companies to protect themselves from threats while also receiving access to tailored coverage options. With its new capital, Cowbell Cyber can expand its reach, offering more SMBs across the globe comprehensive cyber security solutions. It will be interesting to see how this technology evolves over time and what impact it has on small businesses across multiple industries.
