Saturday, May 25, 2024
Resilience secures $100m funding in US.

Resilience secures $100m funding in US.

Resilience, the cyber risk platform, has secured $100 million in equity financing in a Series D funding round aimed at driving its global expansion and promoting the adoption of its cyber risk solution, known as the Resilience Solution. Leading the round was Intact Ventures, an affiliate of Resilience’s primary capacity provider, Intact Insurance’s underwriting companies. Other investors included Lightspeed Venture Partners, General Catalyst, and Founders Fund. With cybercrime predicted to exceed $10.5 trillion by 2025, Resilience aims to address the existing fragmented approach to cybersecurity decision-making with its innovative solution. The Resilience Solution combines the expertise of finance, risk, and security leaders to help clients assess, measure, and manage cyber risk. By leveraging its AI platform, the solution enables businesses to quantify their cyber risk and prioritize security measures based on a comprehensive return-on-investment analysis. Resilience CEO Vishaal “V8” Hariprasad believes that the increase in ransomware attacks highlights the need for an integrated and economically-efficient way to manage cyber risk. He expressed his gratitude to the Resilience team and broker partners for their contribution to the company’s progress. Intact Ventures, the lead investor, expressed excitement about working with Resilience to build the cyber risk platform of the future. They believe that pairing Resilience’s innovative cybersecurity solutions and expertise with Intact Insurance’s underwriting companies will benefit customers. Resilience recently appointed CJ Pruzinsky as the global head of underwriting and sales.

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