Cyber warranty startup Cork raises $6 million
Cork , a cyber warranty company from California that was founded in 2022, closed a $6 million seed funding round led by DVx Ventures. The company offers financial protection against cyber risks.
Cork’s platform offers MSPs (managed services providers) and their customers near-instant financial coverage and settlements in the aftermath of security incidents.
Cork also announced strategic partnerships with Barracuda Networks, a security and data protection solutions provider and River Run, a 30-year-old Managed Services Provider. At launch, the Cork warranty will be bundled with new and existing renewals of Barracuda’s Managed XDR Solution and River Run will offer the Cork active monitoring platform and warranty to its clients.
“The accelerating need for cyber financial protection is causing premiums to increase and coverages to decline – disproportionately affecting SMBs. Cork is addressing this problem in a different way through a complete data-driven warranty solution designed for MSPs and their SMB customers. It’s easy to access, and provides actionable insights, flexible premiums and simple claims management.” – Carlson Choi, CEO at Cork.
“Cybersecurity and risk management are top of mind for organizations of all sizes. While large enterprises have the resources to mitigate attacks, small businesses rely on their MSP partners for this know-how. Through our inside-out monitoring, rapid underwriting, and easy claims tracking, we put security control in the hands of MSPs to financially protect them and their clients. With a world-class team and investors in place, we’re ready to deliver on Cork’s mission.” – Jon McNeill, founder at Cork and CEO and co-founder at DVx Ventures.
Bottom Line: Not really live yet.