Boxx raises $10 million

Toronto-based cyber insurance MGA Boxx Insurance has raised $10 million in Series A funding from Cyber Mentor Fund, Zurich Insurance Group, and SixThirty Ventures.

Launched in 2018, Boxx offers cyber insurance to small businesses, individuals and families and it is active in Canada and in select markets in Europe and Latin America. The company also announced a global collaboration with Zurich.

“BOXX’s prevention-led approach convinced us that they are building a winning business with the potential to actively shape cyber insurance for small to mid-sized businesses and consumers. They are an exciting business and passionate about making cyber security simple for customers by integrating tools and technology with insurance. The combination of their knowledge and Zurich’s global reach and international expertise is a win-win situation for Zurich customers and BOXX.” – Jack Howell, CEO of Zurich Global Ventures.

“A massive opportunity exists to help companies and consumers reduce their growing digital risk exposure and we believe BOXX will play a role given their deep roots in the insurance industry and prevention-led approach. We couldn’t be more excited about the relationship between Zurich and BOXX, and are thrilled to be investing at a time in the BOXX journey when they are seeing unrivaled traction and staking a claim as a dominant force in the industry.” – Tim Eades, general partner, CMF.