At-Bay pulled in a whopping $185 million in new financing that the cyber insurance startup plans to use for new product development, expansion into new markets and hiring more employees.
Including the new round, the managing general underwriter said it has raised $272 million, and it claims to have a post-money valuation of $1.35 billion.
“I can’t overstate what this achievement means to us,” At-Bay Co-Founder and CEO Rotem Iram said in a blog posting on his company’s web site announcing the news. “It’s a validation of the ideas upon which At-Bay was founded. Furthermore it’s a way out of the spiraling market – a blueprint that enables broad cyber coverage at affordable pricing.”
