Risk Analytics Startup CyberCube Snags $50M in Growth Financing, Led by Morgan Stanley
CyberCube Analytics, Inc., a San Francisco, CA-based cyber risk analytics company, raised $50 million in additional growth capital, bringing its total amount raised to more than $100 million.
The round was led by investment funds managed by Morgan Stanley Tactical Value.
Existing investors, including Forgepoint Capital, Hudson Structured Capital Management (Bermuda) Ltd., MTech Capital and Stone Point Capital, and Scott Stephenson, the former chief executive officer of Verisk Analytics Inc., also participated in the round.
CyberCube is the creator of a cyber risk analytics platform that’s used by insurance firms and brokers to provide a better understanding of their customers’ exposure to cybersecurity threats, giving them a better way to protect themselves.
Using the software, insurers and underwriters can evaluate individual commercial risks more accurately during the insurance underwriting process.
The company said its platform is used by some of the world’s largest and most sophisticated players in the insurance and broking industries, including Relm Insurance Ltd., Elpha Secure Technology Inc., Baldwin Risk Partners Group Inc. and Kroll LLC.