Cyber Insurance Startup At-Bay Raises $6 Million
The funding round was led by Lightspeed Venture Partners, with participation from Check Point co-founder Shlomo Kramer and LocalGlobe
Mountain View, California-headquartered cyber insurance startup At-Bay, Inc. has raised $6 million, the company announced Thursday. The seed round was led by venture capital firm Lightspeed Management Company, L.L.C, Shlomo Kramer, a co-founder of Check Point Software Technologies Ltd., and venture capital firm Localglobe LLP.“At-Bay's data and knowledge-driven business model aligns with HSB’s own system of managing and underwriting cyber risk,” said Dave Mercier, a senior vice president at the company. “Their offering truly leverages the strengths of both companies.”
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Founded in 2016, At-Bay analyzes the digital systems of its clients to determine their level of exposure to cyber attacks. Monitoring risks on an ongoing basis, the company offers clients a customized cyber insurance policy.
“We match deep insights on a company’s IT security with financial exposure that cyber attack vectors create, to enable insurance brokers and risk managers to more clearly and accurately assess and manage cyber risk,” At-Bay founder and Chief Executive Rotem Iram said in a statement.
Cyber security (Illustration)
To market its product, At-Bay has partnered with The Hartford Steam Boiler Inspection and Insurance Company (HSB), a subsidiary of reinsurance firm Munich Re Group.
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At-Bay conducts its research and development out of offices in Tel Aviv.