Cork Debuts Cyber Warranty Company, Gets $6 Million in Funding
Summary
"Through our inside-out monitoring, rapid underwriting and easy claims tracking, we put security control in the hands of MSPs. "Cork is providing cyber warranties for MSPs that serve small businesses and the independent software vendor (ISV) solutions that they manage.The company also has secured $6 million in a seed funding round led by DVx Ventures, with participation from Outsiders Fund and Vestigo Ventures, according to a prepared statement.The company has deep channel roots from the outset. Datto founder and former CEO Austin McChord is a managing partner of Outsiders Fund and is on the board of directors at Cork. Cork noted that the platform offers a cyber warranty backed by an inside-out approach to active risk monitoring, detection and remediation.Along with emerging from stealth, Corks warranty is being bundled with new and existing renewals of the Barracuda Networks Managed XDR Solution.In addition, MSP River Run will offer the Cork active monitoring platform and warranty to its clients.Going forward, Cork will address the accelerating need for cyber financial protection that is causing cyber insurance premiums to increase and coverages to decline, CEO Carlson Choi stated. To do so, Cork will provide a data-driven warranty solution that gives MSPs and their customers actionable insights, flexible premiums and simple claims management, Choi indicated.
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