Insurtech Cowbell, a provider of cyber insurance, has closed a $60m Series C equity funding round from Zurich Insurance.
With the $60m funding from Zurich, Cowbell plans to scale operations to meet growing demand, extend its presence in key international markets, bolster cyber resilience services, introduce cutting-edge products to the market, as well as further strengthen strategic partnerships.
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In addition, leveraging existing advances in AI, the firm aims to expand its technological infrastructure to drive further efficiencies and support expedited policyholder and broker decision-making across traditional, digital and API-driven channels.
Zurich’s investment in Cowbell underscores its commitment to supporting businesses that care about cyber protection and resilience solutions, particularly within the SME and middle market segments, where companies are exposed to cyber risk more than ever.
Furthermore, it also aligns with Zurich’s ambition to leverage best-in-class technology and expertise to address the evolving complexities of cyber risk management.
Sierra Signorelli, CEO Commercial Insurance at Zurich, said: “Cyber threats remain a major concern for business leaders due to their constantly evolving nature. To address this, we continue to invest in enhancing our cyber capabilities and building a strong support system for our customers. Cowbell is an excellent partner for managing cyber risks. They use a data-centric approach to risk management, provide continuous risk assessments, actively monitor threats, and have strong underwriting expertise. And all of this is centered around a highly advanced digital platform designed to boost cyber resilience for their customers.”
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By GlobalDataJack Kudale, founder and CEO, Cowbell added: “This investment from Zurich is the strongest endorsement of Cowbell’s vision and capabilities yet and deepens our footprint in the global cyber insurance market. With a refined focus on product expansion, we will accelerate our efforts to deliver advanced and efficient cyber insurance solutions to SMEs and mid-market businesses globally, ensuring they have the protection and tools they need to navigate the rising threats in the evolving cyber landscape.”
