Cyber insurance coverage start-up At-Bay has raised $34 million in a Sequence C funding spherical, in line with a report by TechCrunch.
The funding spherical was led by Qumra Capital. Different traders included Microsoft enterprise fund M12, Acrew Capital, Khosla Ventures, Lightspeed Enterprise Companion, Munich Re Ventures, and Israeli entrepreneur Shlomo Kramer, co-founder of safety corporations Examine Level and Imperva.
At-Bay was based in 2016 by Rotem Iram and Roman Itskovich. It’s headquartered in Mountain View, California, and now has places of work in New York, Atlanta, Chicago, Portland, Oregon, Los Angeles and Dallas, in line with TechCrunch.
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The corporate plans to make use of the capital raised within the newest funding spherical to develop its headcount and launch new merchandise, in addition to bettering its automated underwriting platform, which permits firms to get prompt cyber insurance coverage quotes.
The cyber insurance coverage market is predicted to be value $23 billion by 2025, pushed by the explosion in related units and new regulatory regimes in Europe and California, TechCrunch reported.