UK insurtech KYND nabs £3.25m for ‘transformative’ cyber risk technology

KYND, a London-based provider of cyber risk management solutions for the insurance industry, has nabbed £3.25 million from UK and Ireland-based growth capital investor BGF to accelerate its global expansion plans and launch new products.

Founded in 2018 by Andy Thomas (pictured) and Melanie Hayes, the start-up provides a cyber risk technology platform that gathers and processes data to assess cyber risk for businesses, and presents instant insights in "plain English".

KYND has partnerships with high-profile insurers and brokers, such as Beazley, Howden, Paragon and Alliant.

The company will use BGF’s investment to capitalise on the increasing demand for cyber insurance, by continuing to develop its "transformative" cyber risk technology to launch new products.

Andy Thomas, chief executive of KYND, said: “At KYND, we are on a mission to provide the increasingly-vital cyber risk management tools to radically simplify and improve the cyber insurance process. Our industry-first API-based platform, which provides meaningful risk insights, is making the cyber-insurance market more efficient and well-equipped to deal with the deluge of attacks facing small and mid-market companies.

“We are excited to partner with BGF, which has a proven track record of facilitating growth in ambitious scaleups and will use the funds to further enhance our product development and customer roll-out in the UK and beyond.”

Rowan Bird, investor at BGF, said: “We regard KYND as a best-in-class business that has carved out an impressive niche in the burgeoning cyber-insurance market. With a differentiated offering, high-quality management team, compelling distribution model, and pioneering technology platform, KYND is ideally placed for rapid growth.”

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