At-Bay Closes $20M Extension to Series D; Adds Investor ION Crossover Partners

1 month ago 25

[email protected] October 15, 2021

At-Bay, the security institution for the integer age, contiguous announced the closing of a $20 cardinal hold to the company’s Series D financing, adding caller investor ION Crossover Partners. The hold brings the Series D circular to $205 million, valuing the institution astatine $1.35 billion.

In July 2021, At-Bay closed a $185 cardinal Series D round, co-led by Icon Ventures and Lightspeed Venture Partners, with information from existing investors including Khosla Ventures, M12, Acrew Capital, Qumra Capital, the HSB money of Munich Re Ventures, entrepreneur Shlomo Kramer, and Glilot Capital.

“At-Bay has a tremendous accidental to redesign the security operating system,” said Jonathan Kolodny, Partner, ION Crossover Partners. “We are already seeing their affirmative interaction connected SMBs by reducing ransomware incidents, and we are excited to spot their interaction turn arsenic they use their proprietary automated underwriting level to caller products and services.”

In the look of a ransomware surge crossed the industry, At-Bay’s ransomware claims frequence remains 7 times little than the manufacture average. At-Bay details however its modern attack to hazard management, with a operation of method underwriting and progressive hazard monitoring, helps the companies it insures acquisition less ransomware incidents successful its report: Overcoming Ransomware: A Blueprint for Thriving successful a Digital World.

“At-Bay’s occurrence helping SMBs acquisition less ransomware incidents is resonating with customers and investors alike,” said Rotem Iram, Co-Founder and CEO of At-Bay. “ION has an awesome way grounds of shepherding startups to palmy outcomes, and we are arrogant to person them arsenic an investor.”

At-Bay precocious announced a collaboration with Microsoft to assistance SMBs proactively negociate cyber risk. In Q2 of 2021, the institution surpassed $160 cardinal successful yearly recurring gross connected 800% year-over-year premium growth. At-Bay has raised $292 cardinal to date.

Read Entire Article