Published 11 May 2018
Cyber insurance startup At-Bay has raised $13m to speed up development of its proactive cyber security monitoring service and roll out its insurance products.
Keith Rabois of Khosla Ventures, Yoni Cheifetz of Lightspeed, and Shlomo Kramer co-led the Series A funding round, which brings At-Bay’s total funding to $19m.
According to P&S Market Research, the estimated market for cyber insurance is anticipated to reach about $17bn by 2023.
Khosla Ventures general investment partner Keith Rabois said: “Cyber insurance is one of the fastest growing and complex markets, yet the incumbents are still currently relying on standardized checklists and irrelevant actuarial data to model risk.
“At-Bay is focusing on customized and real-time risk modeling and risk reduction for its customers which unlocks superior pricing and coverage options for them.”
At-Bay was established in 2016 with a goal to use cyber security expertise to offer insurance products and services that allow companies to innovate despite the cyber risk threat.
The company’s policies are supported by the…
