Cowbell, a Pleasanton, CA-based provider of cyber insurance for small- and medium-sized enterprises (SMEs), has secured $25 million in new funding.
The new investment was led by Prosperity7 Ventures, with participation from other new and existing investors.
Prosperity7 Ventures is a venture capital arm of Saudi Aramco based in Dhahran, Saudi Arabia. It invests in early and growth-stage startups with a long-term view. Founded in 2019, the firm seeks to invest in geo-energy, enterprise tech, fintech, deep tech & artificial intelligence, robotics, medical technology, biotechnology, mobility, cybersecurity, e-commerce, cloud computing, food technology, blockchain, B2B, B2C, industrial, and SaaS sectors.
Cowbell Use of Funds
The company will use the funding to deepen its focus on serving its chosen markets in the US and UK.
Cowbell is a provider of cyber insurance for small and medium-sized enterprises (SMEs) and the pioneer of Adaptive Cyber Insurance. 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 in less than 5 minutes. Cowbell is backed by over 20 prominent leading global (re)insurance partners and serves SMEs in 50 U.S. states, the District of Columbia, and the United Kingdom. Founded in 2019, Cowbell is based in the San Francisco Bay Area with employees across the U.S., Canada, India, and the U.K.
Company: Cowbell Cyber, Inc.
Round: Equity Funding
Funding Month: November 2023
Lead Investors: Prosperity7 Ventures
Company Website: https://cowbell.insure/
Software Category: Cyber Insurance