At-Bay, a San Francisco, CA-based insurance company for the digital age, closed a $34m Series C funding.
The round was led by Qumra Capital with participation from M12, Microsoft’s venture fund, Acrew Capital, Khosla Ventures, Lightspeed Venture Partners, Munich Re Ventures and entrepreneur Shlomo Kramer.
The company intends to use the funds to continue growing the team, launching new products, establishing digital collaborations, and improving its platform.
Led by Rotem Iram, co-founder and CEO, and led by Roman Itskovich, co-founder and Chief Risk Officer, At-Bay provides an automated underwriting platform, which enables brokers to get bindable quotes in seconds, along actionable security insights to help clients avoid a cyberattack before it happens. Over the past 12 months, the company has grown all of the following topline metrics by 600%: premium, total number of insureds and total liabilities. At-Bay has tripled its team size, while establishing a regional presence in New York, Atlanta, Chicago, Portland, Los Angeles and Dallas.
As a Managing General Underwriter (MGU), At-Bay underwrites insurance policies through HSB Specialty Insurance Company, rated A++ by A.M. Best Company and part of Munich Re.