Zurich Insurance Group has invested in Cowbell, a leading provider of SME cyber insurance, through a $60 million Series C funding round.
This equity investment will enable Cowbell to expand its operations and enhance its cyber resilience services to meet growing demand. The funds will also facilitate the introduction of innovative products and bolster strategic partnerships.
Cowbell aims to leverage advances in artificial intelligence and generative AI to enhance its technological infrastructure. This will improve efficiencies and expedite decision-making for policyholders and brokers through traditional, digital, and API-driven (application programming interface) channels.
“Cowbell is an excellent partner for managing cyber risks. Their data-centric approach to risk management includes continuous risk assessments, active threat monitoring, and robust underwriting expertise. All of this is supported by a highly advanced digital platform designed to boost cyber resilience for their customers.”
Cowbell founder and chief executive Jack Kudale (pictured left with co-founders Rajeev Gupta and Trent Cooksley) described the investment from Zurich as “the strongest endorsement” of his firm’s vision and capabilities.
“With a refined focus on product expansion, we will accelerate our efforts to deliver advanced and efficient cyber insurance solutions to SMEs and mid-market businesses globally, ensuring they have the protection and tools they need to navigate the rising threats in the evolving cyber landscape,” Kudale stated.
Cowbell’s rapid growth journey is underscored by this significant backing. To date, the company has raised a total of $202 million.
