“Securing a digital world at enterprise scale requires fundamental behavior change. Michael Miller, CEO, Global Specialty Lines, Intact Financial Corporation We look forward to helping them grow their innovative approach to help clients become cyber resilient.” Partnering with Resilience brings deep security expertise to our customers in an everchanging cyber environment. “Having worked closely with Raj (Shah), V8, and the Resilience team, we are pleased to invest again in their cyber solutions. Justin Smith-Lorenzetti, Intact Ventures We’re eager to continue pairing the innovative cybersecurity solutions and expertise of Resilience with the insurance expertise of Intact Insurance’s underwriting companies as Resilience’s primary capacity provider.” “We’re thrilled to lead Resilience’s financing round and to work together to build the cyber risk platform of the future. Vishaal “V8” Hariprasad, CEO and Co-Founder of Resilience I want to thank our team and our broker partners for helping us arrive at this milestone.” This funding will accelerate our mission to make this a reality for more companies around the world. Instead, enterprises need a way to look at their cyber risk in an integrated, economically-efficient, and predictable manner. “The increase in ransomware attacks proves that there are longstanding gaps in today’s cybersecurity and cyber insurance practices. Resilience has raised over $225 million in prior funding and serves primary and excess clients in the United States, United Kingdom, Canada, Ireland, Italy, Spain, and the Nordics. And this success led to a loss ratio that was three times lower than the 2022 industry average. Last year, 100% of clients of Resilience’s cyber risk management solution avoided ransomware extortion, with 67% incurring lower losses than the total insurance base. Built on the company’s financially-proven AI platform, the Resilience Solution enables policyholders to quantify their cyber risk and prioritize their security program based on a return-on-investment analysis of their controls. And by connecting leaders in finance, risk, and security, the Resilience Solution provides clients a new way to assess, measure, and manage their cyber risk. As global cybercrime is set to eclipse $10.5 trillion by 2025, enterprises are finding that the status-quo siloed approach that governs security decision-making today isn’t keeping up. And the Series D round was led by Intact Ventures, an affiliate of Resilience’s primary capacity provider, Intact Insurance’s underwriting companies, with participation by Lightspeed Venture Partners along with General Catalyst and Founders Fund. Resilience recently announced a $100 million equity financing round to accelerate its global expansion and scale the adoption of its holistic cyber risk platform, the Resilience Solution – which launched earlier this year. Resilience: Cyber Risk Solution Company Secures $100 Million To Accelerate Global Expansion
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