Cyber risk startup KYND raises £3.25 million
KYND , a provider of cyber risk management solutions for the insurance industry, closed a £3.25 million investment from BGF.
Founded in 2018 by Andy Thomas and Melanie Hayes, KYND has developed a cyber risk technology platform that gathers and processes data to assess cyber risk for companies. Information is assessed, and presented in ‘plain English’, providing instant insight of cyber risk exposure. The company claims it has achieved a 1000% growth on annual recurring revenue since June 2020 and developed partnerships with insurers and brokers, such as Beazley, Howden, Paragon and Alliant.
“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.” – Andy Thomas, chief executive at KYND.
“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.” – Rowan Bird, investor at BGF.