Cowbell was founded in 2019 as a global small and medium-sized enterprise (SME) cyber insurance provider headquartered in the US and was later launched in London in April 2023. “With this new investment, we will deepen our focus on serving our chosen markets in the US and UK. “This milestone is a testament to our expertise, culture and market leadership.”Financial outlookThe investment builds on Cowbell’s previous three funding rounds. Prosperity7 Ventures investment principal Chris Zhong said the business was “excited to partner with Cowbell on their path to profitable growth and near-term operating profitability as the company further cements its leadership in global SME markets”. “Economic costs of cybercrime will reach $24tr by 2027, accelerating cyber insurance adoption and growth even further,” Zhong added.

Source: The Times November 02, 2023 15:11 UTC