BOXX Insurance, an InsurTech that combines cyber insurance and security, has landed $14.4m in Series B funding round.
The latest investment was led by Zurich Insurance. The company revealed that it has also met its combined goal to grow 10x in the last two years whilst continuing to outperform its underwriting targets.
Back in October, BOXX acquired Templarbit, a cybersecurity platform. The company has also begun the integration of its threat intelligence software into its product suite and underwriting framework.
Over the course of 2022, BOXX launched its Hackbusters Incident Response, virtual CISO service for businesses, a new mobile app solution for consumers, in addition to testing a number of new security-based initiatives.
BOXX’s mission to make the world a digitally safer place has led to its presence expanding across North America and other selected markets poised for growth. BOXX increased its staff from 5 to 36 in the last year.
In addition to expanding its go-to-market team and adding new products, BOXX has also implemented upgrades to its underwriting platform and tools including third party integrations.
BOXX co-founder and CEO Vishal Kundi said, “Our goal was always to help our customers stay ahead of cyber threats in addition to being there to help them respond and recover from an incident. We’ve been making a lot of headway with this and additional category expansion.
“We’re not only seeing more of our existing cyber insurance customers adding our security products, but also seeing new customers coming in attracted by our latest security products and services.”
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