By: 26 February 2024
KYND secures new investment from Verisk and BGF

KYND has officially disclosed an investment in the business to propel expansion and further growth.

The investment comes from Verisk and existing backer BGF, one of the largest growth capital investors in the UK and Ireland.

Founded in 2018 by Andy Thomas and Melanie Hayes, KYND has developed a cyber risk monitoring platform designed to deliver instantaneous and continuous insights into the cyber risk profile of any organisation.

Since securing its Series A funding in early 2022 from BGF, KYND has extended its suite of products and solutions. They are utilised by insurers and brokers such as Beazley, Howden, and Alliant, and private equity firms such as Phoenix Equity Partners. KYND has also expanded into the US with a dedicated team now based in Austin, Texas.

KYND will use the new investment from BGF and Verisk to further support its global growth plans, as well as continuing to develop cyber risk technology.

Andy Thomas, chief executive of KYND, said: “We are excited to continue working with BGF and look forward to welcoming the Verisk team as we execute on our ambitious growth plans.”

Rowan Bird, investor at BGF, said: “KYND has developed an industry-leading platform that provides actionable insights on cyber risk posture. The business has demonstrated impressive growth and this new investment demonstrates our belief in the long-term potential of the company as it continues to scale.”

Tim Rayner, president of specialty business solutions at Verisk, said: “Helping our clients address the risks associated with cyber events is one way we build resilience for the global insurance industry. We are excited to support KYND and find new ways of working together in support of Verisk’s clients in the global insurance market.”

 

Image: Canva.
Emma Cockings
Emma is a content editor for Claims Media.