Cowbell Cyber raises $20 million, aims to build out its AI-drive cyber insurance platform
Cowbell Cyber, an innovative company seeking to build an artificial intelligence-driven cyber insurance platform, has reportedly raised $20 million in Series A funding to achieve its goal. The company currently services small and medium companies but has yet to take the next step towards being capable of working with larger entities. The market for cyber insurance is likely to expand in the next several years as cybersecurity incidents continue to rise, pushing companies to be aware of current threats and have the necessary infrastructure in place in the event of an attack.
Cowell Cyber launched its Prime 250 program in September of last year, seeking to work with smaller companies and test-drive the AI component of its cyber insurance offerings. The company currently boasts a risk pool of 10 million continuously monitored organizations as well as a network of over 4,000 agents and brokers.