Resilience raises $100m Series D round to drive global expansion
By Delisha Fernandes
Resilience has announced a $100 million equity financing round to accelerate its global expansion and scale the adoption of its integrated cyber risk platform.
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 and General Catalyst and Founders Fund.
“The increase in ransomware attacks proves that there are longstanding gaps in today’s cybersecurity and cyber insurance practices,” said Vishaal “V8” Hariprasad, CEO and Co-Founder of Resilience. “Instead, enterprises need a way to look at their cyber risk in an integrated, economically efficient, and predictable manner. This funding will accelerate our mission to make this a reality for more companies worldwide. I want to thank our team and broker partners for helping us reach this milestone.”
Resilience Solution provides clients a new way to assess, measure, and manage their cyber risk. 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.
“We are thrilled to lead Resilience’s financing round and to work together to build the cyber risk platform of the future,” said Justin Smith-Lorenzetti, Intact Ventures. “We are 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.”
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.
“Having worked closely with Raj (Shah), V8, and the Resilience team, we are pleased to reinvest in their cyber solutions. Partnering with Resilience brings deep security expertise to our customers in an ever-changing cyber environment. We look forward to helping them grow their innovative approach to help clients become cyber resilient,” said T. Michael Miller, CEO of Global Specialty Lines, Intact Financial Corporation.
IBSi Daily News Analysis
September 29, 2023
Banking is becoming byte-sized with rise of Embedded Finance, Temenos study showsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage