Resilience, a cyber company focused on transforming the way enterprises assess and manage cyber risk, has bagged $100m in a Series D.
The investment was led by Intact Ventures, with participation from Lightspeed Venture Partners, General Catalyst, and Founders Fund.
Resilience is poised to change the way enterprises view cyber risk. With global cybercrime predicted to reach $10.5tn by 2025, the company’s holistic platform, the Resilience Solution, offers clients an innovative approach to assess, measure, and manage cyber risk. The platform, built on Resilience’s financially-proven AI system, empowers policyholders to quantify their risk and optimise security based on a detailed return-on-investment analysis of their controls.
The newly acquired funding is set to accelerate Resilience’s mission of transforming cyber risk management on a global scale. It aims to make cyber risk assessment more integrated, economically efficient, and predictable for companies around the world.
In 2022, Resilience’s cyber risk management solution proved extremely effective, with 100% of clients avoiding ransomware extortion and 67% incurring lower losses compared to the total insurance base. This success translated into a loss ratio three times lower than the industry average for 2022.
Resilience CEO and Co-Founder Vishaal “V8” Hariprasad said, “The increase in ransomware attacks proves that there are longstanding gaps in today’s cybersecurity and cyber insurance practices. This funding will accelerate our mission to make this a reality for more companies around the world. I want to thank our team and our broker partners for helping us arrive at this milestone.”
Intact Ventures’ Justin Smith-Lorenzetti added, “We’re thrilled to lead Resilience’s financing round and to work together to build the cyber risk platform of the future.”
Arif Janmohamed, Partner at Lightspeed Venture Partners, also commented, “We have been long-term believers in the Resilience team because they set out to fill this critical gap from day one. We are incredibly excited to see them executing on this vision over the past several years and we look forward to how they’ll help the market tackle cyber risk in the future.”
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Copyright © 2018 RegTech Analyst