With rise in cyber attacks and data breaches, companies are turning to cyber insurance companies to protect them against any liabilities. Cyber insurance is a new type of insurance designed to cover consumers of technology services or products. Specifically, the cyber insurance policies cover a variety of both liability and property losses that may result when a business engages in various electronic activities, such as selling on the Internet or collecting data within its internal electronic network. The estimated market for cyber insurance is expected to reach nearly $17 billion by 2023. One startup is already leading the field.
At-Bay is a cyber insurance startup that provides cyber insurance for the digital age. The company was founded in 2016 with an aspiration to use cyber security expertise to provide insurance products and services that enable companies to innovate despite the recurrent, evolving threat of cyber risk. Today the company announced it has raised a $13 million Series A funding to accelerate development of its proactive cyber security monitoring service and roll out its insurance products.
The round was co-led by Keith Rabois of Khosla…
