KYND, provider of pioneering cyber risk management solutions for the insurance industry, has today announced a £3.25m investment from BGF.
KYND said it will use the investment to accelerate its rapid growth and global expansion plans, capitalising on the increasing demand for cyber insurance, as well as continuing to develop transformative cyber risk technology to launch new products.
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 cyber risk management solution developer launched a new website last year, to convey its ability to transform something complex into a simple and easy to understand system. The website showcases the company’s extensive range of cyber risk management solutions for its current and prospective clients, outlines specific sectors they operate within and gives a comprehensive range of industry insights.
KYND has achieved a staggering 1000% growth on annual recurring revenue since June 2020 and developed partnerships with high-profile insurers and brokers, such as Beazley, Howden, Paragon and Alliant.
Andy Thomas, chief executive at KYND, said, “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.”
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