Cowbell Cyber, a Pleasanton, Calif.-based startup focused on Artificial Intelligence (AI)-powered cyber insurance for small to mid-sized enterprises, secured $3.3M in seed funding.
Backers included ManchesterStory Group, Holmes Murphy & Associates, Tri-Valley Ventures and the Global Insurance Accelerator.
The company intends to use the funds to accelerate the go-to-market and development of its continuous risk assessment, underwriting, and comprehensive cyber liability insurance platform.
Led by Jack Kudale, founder and CEO, Cowbell Cyber aligns insurable threats to risk exposures to identify cyber risks and proactively mitigate losses in the aftermath of cyberattacks.
The company uses an inside-out approach to offer ongoing, dynamic, automated, insurable cyber risk assessments, providing customers with real-time insights into insurable risks. Its flagship continuous risk-ratings factor, Cowbell Factor™, enables customized protection and recommendations to provide a policy that matches the customers’ needs as they evolve. Coverage is specifically designed for cyber risk exposure — not entwined with other lines of coverage.
Key members of the executive team include:
– Mr Kudale,
– Rajeev Gupta, Co-founder and Chief Product Officer
– Trent Cooksley, Co-founder and Chief Operating Officer
– Prab Reddy, Co-founder and Vice President of Engineering
Cowbell Cyber plans to initially make its cyber insurance policy, Cowbell Prime™, available in the State of California for businesses up to $250M via a retail broker distribution channel during the first quarter of 2020.