CyberCube raises $180 million

Cyber risk modeling and analytics provider
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CyberCube

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announced an investment of more than $180 million by Spectrum Equity, subject to customary regulatory approvals. With this investment, Spectrum Equity will join existing investors ForgePoint Capital, Hudson Structured Capital Management, and MTech Capital, as a cornerstone institutional investor, supporting the company’s long-term growth and innovation.

Prior to this round, the company disclosed $105 million in funding.

CyberCube’s solutions are utilized by 75% of the top 40 US and European cyber insurers (by gross written premiums) and the majority of the top 20 global brokers.

The new investment will fuel the long-term development of CyberCube’s products and solutions to quantify cyber risk while accelerating go-to-market expansion in the global insurance, reinsurance, and broking industry.

“Cyber has the potential to become one of the largest lines of Property and Casualty insurance, as internet-connected technologies and artificial intelligence transform all corners of the global economy. With the additional capital from Spectrum Equity, CyberCube is even better positioned to deliver the analytic tools our insurance clients need to sustainably grow into the 2030s.” – Pascal Millaire, CyberCube CEO.

“CyberCube is a market-leading company that is transforming the way the insurance sector trades cyber risk. We’re excited to support the company and its management in expanding its product set and global reach in one of the most strategic growth areas for the insurance industry.” – Mike Farrell, Spectrum Equity Managing Director.

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