Mountain View based cyber-insurance startup has raised $13m in Series A financing, co-led by Keith Rabois (of Khosla Ventures), Yoni Cheifetz (of Lightspeed), and Shlomo Kramer (former founder of Check Point and Imperva).
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Cyber Insurance Startup At-Bay Secures $13 Million in Funding
“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, according to At-Bay, which says its cyber security research and modeling approach predicts future risks based on emerging threats. The company says its scans for new vulnerabilities enable its customers to close security holes quickly and avoid loss.
