Sayata Labs Raises $6.5M

Sayata Labs, an enterprise-grade risk assessment solution in the cyber insurance industry for SMBs, announced it has raised $6.5m in seed funding. The company uses advanced cybersecurity and data science expertise to provide insurers with the ability to assess cyber risk, as well as provide existing and potential insureds with actionable mitigation recommendations that significantly improve their cyber risk posture. Sayata is already partnering with AXA, a global insurance leader, to enhance the firms’ cyber risk capabilities. Elron, an Israeli early stage venture capital firm specializing in cyber, led the round.

Sayata provides insurers and brokers with cyber risk visibility by analyzing a range of data sources that are directly linked to the vast majority of cyber breaches – a capability currently non-existent for SMB underwriting. Powered by AI-based algorithms, the solution provides insurers and SMBs with data-driven insights that are specifically related to actual cyber losses. The quick scan accurately ascertains levels of cyber-threat exposure and preparedness unmatched in the industry.

“Protecting our clients against cyber risks is one of our top priorities, which is why AXA partners with trusted, best-in-class solution providers. With Sayata, we can both improve our risk selection, as well as advance our clients’ cybersecurity protection, which helps us partner with our clients effectively.” – Guillaume Borie, CEO of AXA Next, and AXA Group Chief Innovation Officer.