London-based cyber risk management firm DynaRisk has closed $4.7 million funding round to accelerate product innovation and fuel international expansion.
Founded in 2016, DynaRisk provides accessible cybersecurity solutions backed by advanced threat intelligence. The company equips insurers and their customers, individuals, families, and SMEs, with the tools and data needed to navigate the fast-growing cyber insurance and assistance market.
DynaRisk works with (re)insurers, brokers and MGAs to help them empower individuals and businesses with the tools they need to protect themselves online. Its suite of SaaS products, powered by threat intelligence, includes portfolio-level monitoring and dedicated helpline services.
By integrating its cyber risk solutions into insurance offerings, DynaRisk provides features such as vulnerability scanning, dark web monitoring, cybersecurity scoring, training, education, and tailored remediation guidance.
DynaRisk’s solutions allow brokers, underwriters and claims teams to grow premiums, enrich underwriting, boost policyholder engagement, and help reduce claims and loss ratios by helping to prevent cyberattacks.
Commenting on the investment, Andrew Martin, CEO of DynaRisk, said:
Brokers, MGAs and (re)insurers are rushing to tap the fast-growing cyber insurance market as cyber risk is now one of the most pressing challenges for consumers and SMEs globally. While working with global banks, I saw how larger corporations were using expensive and complex enterprise-level software and services and wanted to put these in the hands of more people.
“DynaRisk bridges that gap for the insurance sector, helping them protect their policyholders with industry-leading threat intelligence backed risk management and underwriting software, along with cyber incident response services. YFM quickly understood our vision, and their support will be critical as we scale globally and continue to evolve our platform to meet growing demand.
Meanwhile, the business has appointed to its board serial entrepreneur Phil Zeidler, who has a proven track record in setting up and running successful insurtech businesses.
The round was led by YFM Equity Partners (YFM).
Matt Gordon-Smith, Investment Director at YFM Equity Partners, commented:
DynaRisk has built impressive platforms and a client base in one of the fastest-growing segments of the insurance market. With cyber threats escalating and insurers and brokers under pressure to add more value to their policyholders, DynaRisk’s embedded intelligence platforms and services are ideally positioned. We are delighted to back Andrew and his team as they grow their international footprint and continue to lead innovation in cyber risk management.
DynaRisk currently supports more than 25 insurance customers worldwide, covering approximately 2.4 million consumers and 800,000 SMEs.
As demand for cyber insurance and digital risk mitigation grows, this funding round will enable DynaRisk to scale its commercial and technical operations across EMEA, North America, and Asia-Pacific.
Lead image: Andrew Martin, CEO of DynaRisk | Photo: Uncredited
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