Resilience announces successful $100m funding round

Resilience announces successful $100m funding round | Insurance Business America

Cyber

Resilience announces successful $100m funding round

Funding will bolster the global expansion of its cyber risk solution

Cyber risk platform Resilience has announced a successful $100 million equity financing round aimed at accelerating its global expansion and driving the adoption of its cyber risk solution, the Resilience Solution.

The Series D funding round was led by Intact Ventures, an affiliate of Resilience’s primary capacity provider, Intact Insurance’s underwriting companies. Other participants include Lightspeed Venture Partners, General Catalyst, and Founders Fund.

With cybercrime projected to surpass $10.5 trillion by 2025, organizations are realizing that the existing siloed approach to cybersecurity decision-making is no longer sufficient. The Resilience Solution aims to address this issue by bringing together leaders in finance, risk, and security to provide clients with an innovative way to assess, measure, and manage their cyber risk, the company said. Leveraging its AI platform, the Resilience Solution enables policyholders to quantify their cyber risk and prioritize their security measures based on a comprehensive return-on-investment analysis of their controls.

“The increase in ransomware attacks proves that there are longstanding gaps in today’s cybersecurity and cyber insurance practices,” said Vishaal “V8” Hariprasad, co-founder and CEO of Resilience. “Instead, enterprises need a way to look at their cyber risk in an integrated, economically-efficient, and predictable manner. 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.”