CyberCube, a San Francisco, CA-based cyber risk analytics for the insurance industry, announced $50 million in additional growth capital from investment funds managed by Morgan Stanley Tactical Value (Morgan Stanley). This latest financing brings CyberCube’s total capital raised to over $100 million.
All existing investors Forgepoint Capital, Hudson Structured Capital Management (Bermuda) Ltd., MTech Capital, and key investors from Stone Point Capital. Scott G. Stephenson, former Chairman, President, and CEO of Verisk, also participated in the financing and will join the CyberCube board as a director.
The new funding will fuel the commercial development of CyberCube’s cutting-edge products and solutions to quantify cyber risk while accelerating go-to-market expansion in the global insurance, reinsurance, and broking industry.
“This is an exciting milestone in our mission to empower modern industry and society with world-leading cyber risk analytics so everyone can make better decisions,” said Pascal Millaire, CEO of CyberCube. “In Morgan Stanley, we’ve found a tremendously supportive partner who recognizes the growing significance of cyber risk to the global economy and stands ready to support CyberCube as our business matures from an early market leader to a critical part of the analytics infrastructure in what is becoming one of the largest lines of P&C insurance globally.”
CyberCube models’ cyber risk to allow insurers and brokers to understand their portfolios’ exposure to cyber threats while enabling their clients to better protect themselves. CyberCube’s products also aid underwriters in their evaluation of individual commercial risks during the underwriting process.
Trusted by some of the world’s largest and most sophisticated (re)insurance and broking entities to enable faster, data-driven decisions on cyber catastrophe management, capital allocation, and individual risk underwriting, CyberCube continues to achieve remarkable success as the category leader in portfolio and broking management.
Company: CyberCube Analytics Inc.
Round: Growth Capital
Funding Month: December 2022
Lead Investors: Morgan Stanley Tactical Value
Additional Investors: Forgepoint Capital, Hudson Structured Capital Management (Bermuda) Ltd., MTech Capital, and Scott G. Stephenson
Company Website: https://www.cybcube.com/
Software Category: Cyber Risk Analytics
About the Company: CyberCube is a SaaS technology company, with a strong pedigree in cybersecurity and technology and deep expertise in insurance. CyberCube delivers cyber risk analytics for the insurance industry. With best-in-class data access and advanced multi-disciplinary analytics, the company’s cloud-based platform helps insurance organizations quantify cyber risk to facilitate placing insurance, underwriting cyber risk, and managing cyber risk aggregation. CyberCube’s enterprise intelligence layer provides insights on millions of companies globally and includes modeling on thousands of points of technology failure. The CyberCube platform was established in 2015 within Symantec and now operates as a standalone company exclusively focused on the insurance industry, with access to an unparalleled ecosystem of data partners.