Envelop Risk, a Bristol, UK-based data-driven underwriting and risk analytics company, raised approx. $6m in Series A funding.
The round was led by Alpha Intelligence Capital, with participation from existing investors MS Amlin and Dymon Asia Ventures.
The company intends to use the funds to invest in proprietary machine-learning and data-driven underwriting activity in London and Bermuda and grow both within and beyond cyber (re)insurance.
Led by CEO Jonathan Spry, Envelop Risk is a global specialty cyber and emerging risk insurance analytics and underwriting company. Its proprietary model addresses the complexity of cyber and other emerging risk by combining artificial intelligence, security analytics, intelligence gathering, economic, financial, and behavioral analysis; and modelling and simulation. The company applies an augmented intelligence approach, combining quantitative methods with human expertise in underwriting and information security.
The company has offices in London, New York, and Bermuda.