Cyber Insurance Startup At-Bay Secures $13M Series A Funding Co-Led by Khosla Ventures and Lightspeed

By a News Reporter-Staff News Editor at Insurance Weekly News -- At-Bay, a cyber insurance company for the digital age, announced a $13M Series A funding round co-led by Keith Rabois of Khosla Ventures, Yoni Cheifetz of Lightspeed, and Shlomo Kramer. This brings the company's total funding to $19M. Shlomo Kramer, former founder of Check Point and Imperva, as well as CEO of Cato Networks, will join the board.

"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," said Keith Rabois, general investment partner at Khosla Ventures.

Cyber risk is always evolving and is at odds with the traditional insurance model. The At-Bay cyber security research and modelling approach predicts future risks based on emerging threats. Scans for new vulnerabilities enable At-Bay's customers to close security holes quickly and avoid loss. At-Bay partners with sophisticated brokers to deliver security and financial exposure insights to their customers and design a proactive, comprehensive risk management program.

At-Bay's policies are backed by the Hartford Steam Boiler Inspection and Insurance Company (HSB), a part of insurance giant Munich Re.

Keywords for this news article include: At-Bay.

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