KYND secures ‘substantial investment’ from Verisk and BGF for expansion
KYND, a London-based provider of cyber risk management solutions, has secured “substantial investment” from Verisk to drive business expansion and further growth.
The new funding comes from global data analytics and technology provider Verisk, and existing backer BGF, a growth capital investors in the UK and Ireland.
Founded in 2018 by Andy Thomas (pictured left) and Melanie Hayes (pictured right), KYND has developed a cyber risk monitoring platform designed to deliver instantaneous and continuous insights into the cyber risk profile of any organisation.
Since securing its Series A funding in early 2022 from BGF, KYND has extended its suite of products and solutions that are used by insurers and brokers, such as Beazley, Howden, and Alliant, and private equity firms such as Phoenix Equity Partners. KYND has also expanded into the US with a dedicated team now based in Austin, Texas.
KYND will use the new investment from BGF and Verisk to further support its global growth plans, as well as continuing to develop transformative cyber risk technology.
Thomas, chief executive of KYND, said: “The threat of cybercrime is rising; attacks are now a question of 'when' not 'if' and the risk of these occurring has knock-on effects across the broader landscape. At KYND, we are committed to creating best-in-class, efficient and insight-rich tools that not only remove complexity & jargon, making cyber risks easy to identify, monitor and remediate but also enable rapid decision making in this dynamic ecosystem. We are excited to continue working with BGF and look forward to welcoming the Verisk team as we execute on our ambitious growth plans.”
Rowan Bird, investor at BGF, said: “KYND has developed an industry-leading platform that provides actionable insights on cyber risk posture. The business has demonstrated impressive growth and this new investment demonstrates our belief in the long-term potential of the company as it continues to scale.”
Verisk’s investment in the business provides an exit for CPP, a UK-based provider of assistance and insurance products, which has backed the business since 2018.
Tim Rayner, president of Specialty Business Solutions at Verisk, said: “Helping our clients address the risks associated with cyber events is one way we build resilience for the global insurance industry. We are excited to support KYND and find new ways of working together in support of Verisk’s clients in the global insurance market.”
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