Sayata emerges from Stealth with USD 6.5 mln, accelerates cyber insurance operations

Tuesday 26 March 2019 13:57 CET | News

Sayata Labs, a solution provider in the cyber insurance industry for SMBs, has announced today it has emerged from Stealth with USD 6.5 million in seed funding.

Sayata uses cybersecurity and data science expertise to provide insurers with the ability to assess cyber risk, as well as provide existing and potential insureds with actionable mitigation recommendations that improve their cyber risk posture. The company provides insurers and brokers with cyber risk visibility by analyzing a range of data sources that are directly linked to the vast majority of cyber breaches, a capability currently non-existent for SMB underwriting. Powered by AI-based algorithms, the solution provides insurers and SMBs with data-driven insights that are specifically related to actual cyber losses. Sayata is already collaborating with AXA, a global insurance leader, to consolidate the company cyber risk capabilities.

Elron, an Israel-based early stage venture capital firm specializing in cyber, led the round. The funds will be used to accelerate Sayata’s global operations in the cyber insurance market.

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Keywords: Sayata, Stealth, funding, cyber insurance, cyber risk
Countries: World