Cowbell, a cyber insurance firm based in Pleasanton, CA, has raised $60 million in Series C funding from Zurich Insurance Group, boosting its total funding to over $200 million. Founded in 2019, Cowbell provides adaptive cyber insurance for small and medium-sized enterprises (SMEs) using an AI-assisted underwriting platform. This platform helps businesses assess their cyber risk and secure coverage tailored to their specific needs.
The company’s Cowbell Factor rating index allows SMBs to evaluate their cyber risk and obtain appropriate insurance coverage. Cowbell focuses on protecting and educating businesses against both current and emerging threats. Its services include cyber risk warnings, continuous risk assessment, a closed-loop risk management approach, and premium incentives to encourage improved security practices.
With the new investment, Cowbell plans to scale its operations, enter key international markets, and introduce new products. The company will also enhance its technological infrastructure by leveraging advancements in AI and generative AI, aiming to provide more advanced and efficient solutions for cyber insurance.
Cowbell operates in the US, Canada, the UK, and India, offering coverage to businesses across all 50 US states, the District of Columbia, and the UK. The additional funds will support Cowbell’s global expansion and strengthen its partnerships, ensuring SMEs and mid-market businesses have the tools and protection needed to navigate the evolving cyber landscape.
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