Cowbell Cyber, a Pleasanton, CA-based leading provider of cyber insurance for small and medium-sized enterprises (SMEs), secured $100 million in Series B.
The round was led by Anthemis Group, with participation from Permira Funds, PruVen Capital, NYCA Partners, Viola Fintech, and all existing investors.
This latest financing will increase investment in data science, underwriting, risk engineering, and claims management; expand go-to-market channels including digital distribution; and support Cowbell Re, the company's reinsurance captive.
As part of the funding, Matthew Jones, Managing Director at Anthemis Group will join the Board of Directors, and Victoria Cheng, Partner at PruVen Capital will join as a Board observer. The company also appointed Michael J. Christenson, Partner at CDX Advisors, as an independent board member.
Company: COWBELL CYBER, Inc.
Round: Series B
Funding Month: March 2022
Lead Investors: Anthemis Group
Additional Investors: Permira Funds, PruVen Capital, NYCA Partners, and Viola Fintech
Company Website: https://cowbell.insure/
Software Category: AI-powered Cyber Insurance
About the Company: Cowbell Cyber offers standalone, individualized, and easy-to-understand cyber insurance for small and medium-sized enterprises. In its unique AI-based approach to risk selection and pricing, Cowbell's continuous underwriting platform, powered by Cowbell Factors, compresses the insurance process from submission to issue to less than 5 minutes. Cowbell Insurance Agency is currently licensed in 50 U.S. states and the District of Columbia. Cowbell Reinsurance Company is a licensed insurance captive in the State of Vermont. Cowbell has developed the largest cyber insurance distribution network in the U.S. with more than 14,000 producers and has grown its monitored risk pool to more than 23 million businesses – 70% of the SME U.S. market.