Envelop Risk, a Bristol, UK-based company that specializes in cyber underwriting and risk analytics, raised $130 million (approx. €110.35M) in a Series B round led by SoftBank Vision Fund 2. The deal is planned to close in October 2021.
The proceeds from this round will enable Envelop Risk to expand its proprietary Machine Learning (ML) and data-driven underwriting activity in London and Bermuda. The funds will also enable the company to accelerate its growth into new markets, globally.
The funds will also help the company to expand operations in cyber (re)insurance and cyber technology partnerships while investing in predictive analytics for assessing the economic consequences of cyber risks to commercial enterprises.
Company: Envelop Risk Analytics Ltd
Raised: $130.0M
Round: Series B
Funding Month: September 2021
Lead Investors: SoftBank Vision Fund 2
Additional Investors:
Company Website: https://www.enveloprisk.com/
Software Category: Cyber underwriting and risk analytics
About the Company: Founded in 2016 by Jonathan Spry and Paul Guthrie, Envelop Risk is a specialty cyber and emerging risk underwriting firm. The company’s proprietary model addresses the complexity of cyber and other emerging risks by combining artificial intelligence (AI), security analytics, intelligence gathering, economic, financial, and behavioral analysis, and modeling & simulation. It applies an augmented intelligence approach to analysis and underwriting, combining human expertise and information security. The firm has already underwritten over $250M of business since 2018. Its team combines decades of insurance and capital markets experience with cyber security, engineering, artificial intelligence, and data analytics experts from deep tech enterprises like defense, aerospace, and energy.
Source: https://siliconcanals.com/crowdfunding/envelop-risk-secures-110-35m/