Cowbell Cyber Raises $100M To Drive SME Insurance Adoption
Summary
Cowbell Cyber closed a Series B funding round to strengthen its data science capabilities and risk engineering functions and bolster its business with MSPs. The Pleasanton, Calif.-based company plans to use the $100 million to obtain visibility into the entire small and medium-sized enterprise (SME) ecosystem and help policyholders understand where risk lies within their security stack, according to co-founder and Chief Operating Officer Trent Cooksley. MSPs are often unable to resolve ransomware attacks or pay the ransom on behalf of an individual customer, and Cooksley said channel partners without access to insurance coverage find that few services are available to them. Having a really robust risk pool is essential for the company’s ability to continuously assess the overall threat landscape and provide a tailored insurance product back to the policyholder, according to Cooksley. “We have a lot of technology capabilities to deliver product within non-insurance ecosystems where it makes sense with digital distribution, instant quoting, and precise underwriting through our AI,” Cooksley said.