KYND secures new funding to advance cyber risk management

KYND, a leading provider of cyber risk management solutions, has announced a substantial investment, to propel expansion and further growth. The investment comes from BGF, which has backed the business since 2022, and Verisk, a leading global data analytics and technology provider.

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. Offering actionable and transparent cyber risk intelligence, KYND supports informed and rapid decision making across the cyber eco system.

Since securing Series A funding from BGF in early 2022, KYND has extended its comprehensive suite of cutting-edge products and industry-focused solutions. These are used by leading insurers and brokers, including Beazley, Howden, and Alliant, and private equity firms, such as Phoenix Equity Partners. KYND has also successfully expanded into the US, with a dedicated team now based in Austin, Texas.

The business has been recognised as one of the most innovative and powerful global cyber risk management solutions. Recent award wins in 2023 include “Cyber Security Product of the Year” at the Risk Management Awards and ‘Cyber Risk Management Solutions Provider’ at the Fintech Awards.

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

Andy Thomas, Chief Executive of KYND, said: “The threat of cybercrime is rising; attacks are now a question of “when” not “if”, and the risk of these occurring has knock-on effects across the broader landscape. At KYND, we are committed to creating best-in-class, efficient and insight-rich tools that not only remove complexity and jargon, making cyber risks easy to identify, monitor and remediate, but also enable rapid decision making in this dynamic ecosystem. We are excited to continue working with BGF and look forward to welcoming the Verisk team as we execute on our ambitious growth plans.”

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.”