At-Bay, a San Francisco, CA-based cyber insurance startup, raised $185M in Series D Funding valued at $1.35 Billion.
The round was co-led by Icon Ventures and Lightspeed Venture Partners, with participation from existing investors including Khosla Ventures, M12, Acrew Capital, Qumra Capital, the HSB fund of Munich Re Ventures, entrepreneur Shlomo Kramer, and Glilot Capital. Preeti Rathi, General Partner at Icon Ventures, has joined At-Bay’s Board of Directors, in conjunction with the financing.
The company intends to use the funds to:
- continue investing in innovation,
- launch new products,
- expand into new markets, and
- grow its team and capabilities.
Led by Rotem Iram, Co-Founder and CEO, and Roman Itksovich, Co-Founder and Chief Risk Officer, At-Bay combines technology with insurance expertise to underwrite policies through HSB Specialty Insurance Company, rated A++ by A.M. Best Company and part of Munich Re.
The company recently surpassed $160 million in annual recurring revenue on 800% year-over-year premium growth.
FinSMEs
27/07/2021