Cowbell Cyber, a Pleasanton, Calif.-based AI-powered cyber insurance provider for small to medium enterprises (SMEs), closed a $20M Series A funding.
The round was led by Brewer Lane Ventures with participation from Pivot Investment Partners, Avanta Ventures, Markel Corporation, and existing investors ManchesterStory, Tri-Valley Ventures, and Holmes Murphy. In conjunction with the funding, Martha Notaras, Managing Partner at Brewer Lane Ventures, will join the Cowbell Board of Directors and Akbar Poonawala, Co-Founder at Pivot Investment Partners, will join as a board observer.
The company intends to use the funds for product development, expansion of risk engineering, sales, marketing efforts, and increase of footprint nationwide.
Led by Jack Kudale, Founder and CEO, Cowbell Cyber is dedicated to providing individualized cyber insurance for businesses with up to $1 Billion in revenue. Its AI-based continuous underwriting platform, powered by Cowbell Factors, compresses the insurance process from submission to issue to less than 5 minutes. Cowbell Insurance Agency is currently licensed in 50 U.S. states and the District of Columbia. It has a network of more than 4,500 agents and brokers that now distribute its cyber insurance programs.