Sayata uses 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 improve their cyber risk posture. The company 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. Sayata is already collaborating with AXA, a global insurance leader, to consolidate the company cyber risk capabilities.
Elron, an Israel-based early stage venture capital firm specializing in cyber, led the round. The funds will be used to accelerate Sayata’s global operations in the cyber insurance market.
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