As we close out the year, we believe it’s important to pause and reflect on the key milestones achieved by our teams and partners. These accomplishments have established a solid foundation for 2025 and positioned us for continued growth. We remain steadfast in our commitment to fostering market innovation and to building a safer digital ecosystem.
Here’s a summary of the year’s key achievements:
- Empowering Policyholders Through Insights and Risk Reduction: Our Cyber Round-Up Reports shed light on the current cyber threat landscape concerning company sizes and industries, as well as the frequency and severity of different types of cyber threats. This underscores our commitment to equipping businesses with the latest knowledge and tools to mitigate cyber threats around the clock.
- Strategic Expansion in the U.S. and UK: 2024 marked our official entry into the U.S. and UK middle-market sectors by offering adaptive cyber coverage to businesses with up to $/£ 1 billion in revenue/turnovers. This expansion was complemented by the introduction of specialized solutions, and our growth enabled us to launch enhanced incident response services in the UK. Our commitment to these markets positions us for significant growth beyond small and medium-sized enterprises (SMEs).
- Fresh Insight into the UK Market: Our introduction of incident response services in the UK was underpinned by extensive analysis of cyber incident trends and business needs in the market, with our report revealing that 77% of UK SMEs do not have any in-house security.
- Strengthening Our Foundation With Series C Funding: A key highlight of the year was securing $60 million in Series C funding, led by Zurich Insurance Group. This investment is fueling our next chapter of growth, allowing us to innovate faster, expand our product offerings, and deepen partnerships with brokers and policyholders. And, it’s allowing us to further leverage AI and advanced technologies to create a more secure digital ecosystem.
- Introducing Cutting-Edge Products: We unveiled Prime Tech with Cowbell Co-pilot, a solution that simplifies cyber and technology E&O insurance for technology-focused businesses. We also expanded our services with the pre-launch of Cowbell Managed Detection and Response (MDR). This reflects our focus on meeting the unique needs of specific industries and fostering resilience against cyber risks.
- Industry Recognition and Awards: Throughout the year, Cowbell received extensive recognition from industry leaders, earning awards and accolades that underscore our innovation, customer-centric approach, and impact in the cyber insurance sector. Among others, Forbes named Cowbell one of the Best Startup Employers for 2024, and we also earned spots, including #13 overall and #1 in the Insurance industry in the Inc. 5000 2024 ranking of North American private companies, #25 in the 2024 San Francisco Bay Area Fast 100, and #10 in the Deloitte 2024 Fast 500.
- Making an Impact in our Communities: Not only do our team members drive performance and innovation within our business, but they also have a positive and growing impact on all of the communities in which we operate. A shining example of this was our Cowbell Cares volunteer day – a resounding success last year with “Cowbellers” participating across 12 hubs nationwide in everything from food packaging, to park clean-ups, to assisting animal shelters and participating in donation drives.
- Strength in Numbers: The milestones we reached throughout the year tell an impressive story, reflecting the growing impact our teams are having on addressing an increasingly complex risk environment. As of year-end, our risk pool now encompasses nearly 50 million SMEs across the U.S., UK, Japan, and Australia. Our platform has also now surpassed 80,000 users, and we handled over 1,200 claims in 2024.
As we celebrate these achievements, we remain focused on our mission to redefine cyber insurance. The road ahead promises even greater opportunities as we continue to innovate, expand, and protect businesses worldwide.
Thank you to our dedicated team, partners, and policyholders for being part of this journey. Together, we’re building a safer, more resilient future.
Here’s to more innovation and growth in 2025!
