- Upfort offers a unified platform merging security and cyber insurance to provide all-encompassing cyber risk solutions with seamless management powered by artificial intelligence.
- In the event of a cybersecurity incident, Upfort has a team of experts ready to provide support in areas such as legal matters, forensics, negotiation in cases of extortion, public relations, and credit monitoring.
Cybersecurity and insurance platform startup Upfort has just secured USD 8 million in fresh funding to drive its mission of streamlining insurance sales for brokers and insurers while providing robust cyber threat protection for its clients.
Established in 2017 and initially operating under Paladin Cyber, Upfort offers a unified platform merging security and cyber insurance to offer all-encompassing cyber risk solutions with seamless management powered by artificial intelligence.
Regarding its cybersecurity offerings, Upfort provides comprehensive cyber protection that boasts straightforward deployment and hassle-free management. Their cybersecurity services encompass email and web protection, security training, and ongoing risk monitoring. AI is leveraged to predict and mitigate risks with greater precision, using unique insights drawn from vast datasets of cyber insurance claims.
Upfort’s software blocks access to malicious websites, downloads, and files. It can also spot vulnerabilities, misconfigurations, and high-risk employees while promptly detecting and responding to malicious network activity. Additionally, it protects against wire transfer fraud, phishing attempts, and data breaches.
When it comes to cyber insurance, Upfort collaborates with a range of insurance providers to identify and secure the most suitable cyber insurance policies for its clients. In the event of a cybersecurity incident, the company has a team of experts ready to provide support in areas such as legal matters, forensics, negotiation in cases of extortion, public relations, and credit monitoring.
According to the company, a recent study indicated that policyholders who have fully implemented Upfort Shield experienced significantly fewer security breaches and claims—the likelihood of filing a claim decreased by 80%.
SYN Ventures LLC led the Series A round, and it also saw participation from Eniac Ventures LLC, Altai Ventures LLC, Fika Ventures LLC, Chaos Ventures LLC, Gaingels Inc., Aquila Capital Partners LP, and Cyber Mentor Fund LP.
“Upfort was founded as a comprehensive cyber platform to safeguard businesses against evolving threats and new risks,” Co-founder and CEO Xing Xin said. “The new investment will enable us to build on these efforts as we continue our mission of accelerating the world’s journey toward cyber resilience.”