Cybersecurity Startups Venture

Cowbell Cyber Raises $100M As Cyberattacks Rise

Illustration of masked thief peeking through keyhole on laptop screen.

Just about a year after raising its Series A, Pleasanton, California-based Cowbell Cyber closed a $100 million Series B as cyberattacks continue to dominate news headlines.

The new round was led by Anthemis Group with participation from Permira, PruVen Capital, Nyca Partners, Viola FinTech and all existing investors. Founded in 2019, the company has raised $123.5 million to date.

Cowbell was just one of several cyber insurance firms to raise money last year—and with hacks and ransomware attacks seemingly a daily occurrence now, it seems likely the sector will see the same interest this year.

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2021’s banner year for cyber insurance fundraising included:

Cowbell specializes in policies for small and medium-sized enterprises (SME). In its release, the company said it estimates that cyber insurance in-force premiums in the U.S. will total $100 billion by 2030—and one in five SMEs in the U.S. remains uninsured or underinsured for cyber risk.

Illustration: Dom Guzman

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