Tel-Aviv based Kovrr raises $5.5m
Cyber-risk modelling firm Kovrr has raised $5.5 million in a financing round led by StageOne Ventures and Mundi Ventures, with participation from Banco Sabadell.
Tel-Aviv-based Kovrr says the new funding will accelerate the company’s global expansion plans and its product development, specifically “data harvesting and predictive modeling capabilities”. 
The three-year-old company was founded by security experts who came up with the idea to create a data-driven end-to-end insights solution which calculates cyber risk exposures and the potential financial loss a result.
“Kovrr is one step ahead in modeling cyber-security risks and has the potential to become the engine that powers cyber risk underwriting for the insurance industry,” says Mundi Ventures’ CEO, Javier Santiso.
He adds: “Their technology’s ability to give insights about existing silent cyber risk exposure combined with methods to measure risks from new policies, is superior to competing technologies.”
The solution is targeted at private insurance and government regulators, helping them to save billions of dollars’ worth of damage by leveraging data science and predictive analytics to quantify silent cyber risks.
