The round was led by Acrew Capital and Munich Re Ventures, through the HSB Fund. Existing investors Khosla Ventures, Lightspeed Venture Partners and contractor Shlomo Kramer also participated in the round. With this new investment, At-Bay has raised a total of $51 million to date.
“The deck is stacked against small business owners who stand on their own to defend their organizations from international crime syndicates and state actors,” said Rotem Iram, co-founder and CEO of At-Bay. “Here at At-Bay, we are building a new type of insurance company designed from the ground up to manage the unique risks associated with doing business in the digital age. We are a partner that our clients can rely on to navigate cyber risk, completely financially aligned with their business to help them stay secure. “That’s right.
At-Bay helps companies navigate risk across their technology stack with continuous vulnerability monitoring. As part of the insurance policy, the At-Bay Security Team monitors the perimeter of each portfolio company and actively alerts them to new vulnerabilities. In 2019, At-Bay helped more than 9,000 companies secure their systems against imminent new attacks, saving both the client and the insurer avoidable losses.
“Each company will need cyber insurance to help manage the risks of doing business in the digital age,” said Mark Kraynak, founding partner of Acrew Capital. “At-Bay has built the world’s leading platform in space, delivering two new products and accelerating growth in 2019. We’re excited to partner with them to bring that momentum forward. “That’s right.
The new investment follows a year in which At-Bay has doubled its team, opened offices in New York and Atlanta, and launched two new products that have generated tremendous growth. At-Bay’s broker network grew by 400% in 2019, while revenue increased by 10x year-on-year. At-Bay has a 100% year-over-year retention rate with each existing client renewing their policy. The new investment will enable At-Bay to accelerate product offerings and deepen the foundations of its insurance offering through expert underwriting and claims management.
Highlights for 2019
Duplicate the team
Two new offices in New York City and Atlanta.
10x year-over-year revenue growth
400% growth in the broker network
100% renewal of policy year-over-year
“Cyber criminals are creative and always hunting for new vulnerabilities, and even the best defense may have holes,” said Stephanie Watkins, senior vice president of HSB, part of Munich Re. “At-Bay believes that businesses need cyber insurance that is as strong as their security, which is why we have invested in At-Bay and will continue to provide the underwriting capacity they need to grow. “That’s right.
At-Bay is a digital age cyber insurance company We build risk management products and services that keep clients safe and allow brokers to provide more insightful coverage analysis and eliminate the need for manual processing. As Managing General Underwriter (MGU), At-Bay is underwriter of insurance policies through HSB Specialty Insurance Company, rated A++ by A. Oh, M Best Company and part of the Munich Re Group At-Bay is supported by Acrew Capital, Khosla Ventures, Lightspeed Venture Partners, Munich Re Ventures and Shlomo Kramer. For more information on At-Bay, please visit: At-Bai Come on,
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