PLEASANTON, Calif., October 05, 2021 — Cowbell® Cyber, the industry’s first AI-powered cyber insurance provider for small to medium enterprises (SMEs), today was named to the fourth annual CB Insights Fintech 250, a prestigious list of emerging private companies working on groundbreaking financial technology. This year’s list was unveiled on stage at CB Insights’ Future of Fintech conference in New York City. This accolade is a testament to how Cowbell continues to deliver accelerated growth, secures substantial insurance capacity, scales distribution with its superior digital experience and excels at risk selection through its AI-assisted underwriting.
This listing comes on the heels of a number of milestones Cowbell has passed within the last year. In March, the cyber insurance provider disclosed $20 million in Series A funding, led by Brewer Lane Ventures, to expand headcount and further invest in its continuous underwriting platform. Additionally, the company recently announced the insurance industry’s first ever cyber risk exchange marketplace, Cowbell Rx, which enables businesses to gain access to recommended cybersecurity solutions and services, in order to meet the minimal criteria to get coverage. Cowbell Rx partners include major players within the cybersecurity industry such as Arctic Wolf, CrowdStrike, Cyberark, DarkOwl, and more.
“It is more clear than ever that there is a growing need for comprehensive cyber insurance among businesses of all sizes,” said Jack Kudale, Founder and CEO at Cowbell Cyber. “We are honored to receive this recognition as one of the few companies in this space that delivers coverages tailored to identified risk exposures in minutes and empowers policyholders to improve their cyber hygiene.”
Through an evidence-based approach, the CB Insights Intelligence Unit selected the Fintech 250 from a pool of over 17,000 companies. They were chosen based on several factors, including data submitted, company business models and momentum in the market, and Mosaic scores, CB Insights’ proprietary algorithm that measures the overall health and growth potential of private companies.
Cowbell’s innovative solution brings unprecedented speed and accuracy to the cyber insurance policy process. This listing further reveals how the company is making a name for itself within the everchanging cyber insurance space, due to its rapid expansion and success.
Fintech 250 2021: Investment Highlights
- Unicorns: 118 of the 250 companies (47%) are valued at or above $1B as of their latest funding round
- Funding trends: In 2021 year-to-date (YTD), these 250 private companies have raised $40.3B in equity funding across 275 deals (as of 9/14/21)
- Mega-rounds: Since 2020, there have been 178 mega-rounds ($100M+) equity investments to this year’s Fintech 250, with 138 of them in 2021 YTD
- Global representation: 36% of the 2021 Fintech 250 are based outside the US. After the US, the UK is home to the most Fintech 250 companies (25), followed by India (12). This year’s winners are based in 26 countries, including France, Brazil, Germany, Indonesia, and Nigeria.
- Top VC investor: Ribbit Capital is the most active investor in this year’s Fintech 250 companies, having invested in 62 deals since 2016. Since 2019, Ribbit has participated in 41 deals with this cohort of companies, including Nubank, Uala, Brex, Vouch, Razorpay, and BharatPe. Tiger Global Management and Accel were close behind with 57 and 55 deals, respectively.
About CB Insights
CB Insights builds software that enables the world’s best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.
About Cowbell Cyber
Cowbell Cyber is dedicated to providing standalone, admitted individualized, and easy-to-understand cyber insurance for small and mid-size enterprises. In its unique AI-based approach to risk selection and pricing, Cowbell’s 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 and provides SMEs with up to $5 Million in standalone coverage. For more information, please visit www.cowbell.insure.
Lumina Communications for Cowbell Cyber