CyberCube Analytics, a cyber risk analytics startup focused on the insurance industry, pulled in a $35 million financing to help fuel further growth.
The San Francisco-based InsurTech said it will use the investment infusion to expand its cyber data and analytics platform offerings. Plans are also underway to broaden marketing from global insurers to regional and national carriers, the company said.
HSCM Bermuda and ForgePoint Capital led the Series B financing. As part of the venture investment deal, Michael Millette, founder and Managing Partner at HSCM Bermuda, will join CyberCube’s Board of Directors.
CyberCube’s technology centers around software-as-a-service for cyber aggregation modeling and individual risk underwriting, with goal of enabling faster, data-driven decisions for cyber catastrophe management, capital allocation and related underwriting.
The company claims to have attracted “some of the world’s largest and most sophisticated insurance and reinsurance entities” as customers since its January 2018 debut.
CyberCube’s technology was developed by Symantic Corp., through initial seed investment from Trident Capital Cyber Security, a $300 million venture fund focused exclusively on cybersecurity companies.