As digital outages rise, Parametrix lands $27 million Series B for downtime insurance
The Israeli startup targets Fortune 500 clients as demand surges for coverage against cloud and data-center outages.
Parametrix, a digital infrastructure insurance company, has raised $27 million in a Series B round led by Mundi Ventures, FirstMark Capital, and HDI Group, with participation from existing investors including F2 Venture Capital and several strategic backers. The company has now raised a total of $45 million since its founding.
Parametrix has developed a platform capable of assessing and insuring digital downtime risks at scale. Against the backdrop of frequent cloud outages and data center failures affecting global companies, the company now provides insurance solutions covering digital downtime and cyber threats across both cloud and on-premises environments, targeting enterprises that require high resilience and uninterrupted performance.
The company’s technology monitors more than 7,000 cloud-based technology companies and roughly 750 data centers worldwide, generating over one billion performance data points each month.
Speaking with Calcalist, CEO Jonathan Hatzor said the company has intentionally kept its workforce steady at around 30 employees. “After the market crash in 2022, we chose not to hire aggressively and instead focused on preserving cash,” he said. “We developed a culture of growth without increasing headcount. In insurance, many companies hired rapidly and burned a lot of money. We didn’t make that mistake. If in the past we were 50% development and the rest sales, today the company is more commercial. We sell through insurance brokers rather than direct sales. We’ve grown threefold in each of the last few years.”
“Today, the company sells in the tens of millions of dollars, and we are one of the most efficient companies in the insurance sector,” Hatzor added. “We started with a cloud-based product and expanded our coverage to any failure in computer systems. We focus on corporations, not small businesses, and sell to Fortune 500 companies. We also operate in Israel, offering cyber insurance that is different from others because we pre-agree on compensation amounts without requiring a traditional claim. We provide a seamless path to reimbursement for outages and cyber incidents.”
Alongside the new funding round, Parametrix launched a cyber insurance product that integrates digital business-interruption coverage directly into a standard cyber policy. The product offers fast, pre-agreed payouts when defined disruptions occur within an organization’s digital supply chain, allowing companies to recover more quickly and with greater predictability.
Parametrix was founded in early 2020 by CEO Yonatan Hatzor, Neta Rozy (no longer active in the company), Ori Cohen, and Tamir Carmel, the former founder of 10bis. The company employs 30 people, split between Israel and the United States.
