SAN FRANCISCO–CyberCube, the market leader in cyber risk analytics, announced USD 50 million in additional growth capital from Morgan Stanley Tactical Value investment funds, with participation from all existing investors Forgepoint Capital, MTech Capital, Hudson Structured Capital Management (Bermuda) Ltd and key investors from Stone Point Capital.
Former Verisk Chairman, President, and CEO Scott G. Stephenson participated in the funding and will join the CyberCube board of directors as a director. The current round of funding raises CyberCube’s total cash to more than USD 100 million.
CyberCube models cyber risk to assist insurers and brokers in understanding their portfolios’ exposure to cyber dangers while enabling their clients to better defend themselves. Underwriters can use CyberCube’s tools to help them evaluate particular business risks throughout the underwriting process. The additional capital will support the commercialization of CyberCube’s cutting-edge cyber risk products and solutions and accelerate go-to-market expansion in the global insurance, reinsurance, and broking business.
Pascal Millaire, CEO of CyberCube:
“This is a critical step in our mission to provide contemporary industry and society with world-class cyber risk analytics so that everyone can make better decisions. We’ve found a tremendously supportive partner in Morgan Stanley, who recognizes the growing importance of cyber risk to the global economy and stands ready to support CyberCube as it matures from an early market leader to a critical component of the analytics infrastructure in what is quickly becoming one of the world’s largest lines of P&C insurance.”
Co-Head of Morgan Stanley Tactical Value and Managing Director at Morgan Stanley, Pedro Teixeira said: “CyberCube is a firm that’s received considerable interest from the financial community. Industry participants have recognized its importance in the insurance markets and the broader economy. It represents a great investment opportunity for Morgan Stanley to contribute to the continued reduction of global cyber dangers.”
More about the company:
CyberCube provides the insurance sector with the world’s best cyber risk analytics. The company’s cloud-based platform, which provides best-in-class data access and powerful multi-disciplinary analytics, assists insurance businesses in quantifying cyber risk to ease placing insurance, underwriting cyber risk, and managing cyber risk aggregation. CyberCube’s enterprise intelligence layer delivers information on millions of enterprises globally and includes modeling on thousands of sites of technological failure.
The CyberCube platform was created within Symantec in 2015. It currently runs as a separate company solely focused on the insurance sector, with access to an unrivaled network of data partners. It is backed by Morgan Stanley Tactical Value, HSCM Bermuda, Forgepoint Capital,MTech Capital, individuals from Stone Point Capital and Scott G. Stephenson.
We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
 Ltd and key investors from Stone Point Capital.){kind=link}