At-Bay to shut down Relay

Cyber insurance startup At-Bay intends to shut down Relay Platform, the cyber-focused, single-entry multi-carrier quoting solution it acquired nearly two years ago.

Founded in 2018 following a collaboration between American Family Insurance and venture studio Highline Beta, Relay originally targeted the reinsurance space with a risk placement offering. The startup later pivoted to offer a digital placement solution for multiple specialty commercial lines, with a focus on cyber. Relay raised ~$8 million in funding and it has ~25 employees according to LinkedIn data.

At-Bay provided the following statement:

“We have made the difficult decision to close our independent subsidiary, Relay, effective August 6th. This decision reflects our commitment to strategically focus on our core insurance and cybersecurity business. The launch of At-Bay Stance MDR earlier this year has been extremely successful, and we have close to 10,000 customers actively using our Stance platform. This is At-Bay doubling down on our mission to combine insurance and security together – with InsurSec – and close the cybersecurity risk gap for mid-market and small businesses.

We are thankful to the contributions made by Relay’s dedicated team under Aaron Davidson’s leadership – the technology they have developed is truly world-class. We are committed to working closely with them to provide assistance, including by offering severance packages and outplacement services, to help ease their transition to new opportunities. We will also work to ensure a smooth wind-down process to fulfill obligations to customers, partners, and other stakeholders of Relay.”