Cyber insurtech BOXX Insurance announces USD $10M Series A round to further accelerate growth, prepare for international expansion
Summary
Cyber insurtech BOXX Insurance announces USD $10M Series A round to further accelerate growth, prepare for international expansion BOXX advances its mission to make it easier for customers to be smarter, more resilient to cyber threats BOXX, the leading cyber insurance provider for small businesses, individuals and families, announced today that it has closed its oversubscribed USD $10 million (CAD $12.7 million) Series A-round in a bid to accelerate growth and expand its footprint internationally. “In a world impacted by major technological and societal disruptions, the expectations around cyber and privacy protection have never been more important,” says Vishal Kundi, CEO of BOXX, which he co-founded with Mike Senechal. “Our model has been proven to help clients identify and stop attacks and should an incident occur, minimize the trauma and damage that typically ensues,” says Kundi. The Series A funding will help BOXX expand the team to support the increasing growth in demand from brokers, partners and clients and prepare for international expansion, Kundi adds. The combination of their knowledge and Zurich’s global reach and international expertise is a win-win situation for Zurich customers and BOXX.” “A massive opportunity exists to help companies and consumers reduce their growing digital risk exposure and we believe BOXX will play a role given their deep roots in the insurance industry and prevention-led approach,” says Tim Eades, General Partner, CMF.