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.
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…
