Israeli cyber insurance At-Bay recently announced a partnership with Microsoft to assist small and medium-sized businesses in proactively managing cyber risk.
In the second quarter of 2021, the company exceeded $160 million in annual recurring revenue, with a premium growth of 800 percent year over year. To date, At-Bay has raised $292 million.
At-Bay is the integration of an insurance policy and cybersecurity capabilities, which enables the company to actively reduce its clients’ risk levels.
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Founded in 2016 by CEO Rotem Iram and Chief Risk Officer Roman Itskovich. At-Bay currently employs 120 workers, 50 of whom work in the company’s research and development facility in Israel. The rest are in New York, San Francisco, and Atlanta.
“At-Bay has an incredible opportunity to reimagine the insurance operating system,” said Jonathan Kolodny, ION Crossover Partners partner. “We are already witnessing a good impact on SMBs as a result of their reduction in ransomware attacks, and we are thrilled to see their impact grow as they expand their use of their patented automated underwriting platform to new products and services.”