Cyber Insurance Firm Resilience Raises $80 Million

Cyber insurance and security solutions provider Resilience on Monday announced raising $80 million in a Series C funding round.

The funding round, which brings the total raised by the company to $124 million, was co-led by General Catalyst and Corey Thomas of Rapid7, with participation from Lightspeed Venture Partners, Founders Fund, Charles River Ventures, Shield Capital, and Intact Ventures.

Resilience says it will use the money to fuel middle market expansion and international growth plans.

The company provides cyber insurance policies and cybersecurity solutions to mid-market companies. Its offering includes ransomware readiness and incident response services.

“We took a deliberate approach entering the middle market. Our clients are discerning buyers with sophisticated infrastructure. We proactively connect their security posture with their insurance policy, not as vendors, but as partners. That personal, integrated approach of transparency and action is what makes us so different,” said Vishaal Hariprasad, CEO of Resilience. “This funding round signals that the market is ready for our insure + secure model.”

Resilience is not the only cyber insurance firm that has raised a significant amount of money over the past year. The list includes Coalition, At-Bay, Cowbell, and Corvus. At-Bay and Coalition have achieved unicorn status — each of them has been valued at more than $1 billion.

*updated with total amount of money raised by Resilience

Related: The Wild West of the Nascent Cyber Insurance Industry

Related: Meeting Backup Requirements for Cyber Insurance Coverage

Related: Improving Security Posture to Lower Insurance Premiums

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Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

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