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Cyber insurer Cowbell Cyber Inc. said Wednesday it has secured $100 million in additional funding.
Investment company London-based Anthemis Group SA led the funding.
Pleasanton, California-based Cowbell, which focuses on cyber insurance for small and medium-sized enterprises, said the latest funding will increase investment in data science, underwriting, risk engineering and claims management and expand market channels, including digital distribution.
It will also be used to support the company’s reinsurance captive, Cowbell Re, the company said.
Cowbell Cyber Inc., a program manager that uses artificial intelligence to offer cyber coverage for small-to-medium-sized companies, closed a $20 million funding round on Thursday.