KYND, the London-based provider of cyber risk management solutions, has disclosed “a substantial investment” to propel expansion and further growth.
The investment comes from Verisk, a leading global data analytics and technology provider, and existing backer BGF, one of the largest and most experienced growth capital investors in the UK and Ireland. The amount of the investment was not disclosed.
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.
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 organization. Offering actionable, transparent cyber risk intelligence, KYND supports informed and rapid decision-making across the cyber ecosystem.
Since securing its Series A funding in early 2022 from BGF, KYND has extended its comprehensive suite of cutting-edge products and industry focused solutions, which are used by leading insurers and brokers (such as 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 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,” commented Andy Thomas, chief executive of KYND, in a statement.
“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,” Thomas added. “We are excited to continue working with BGF and look forward to welcoming the Verisk team as we execute on our ambitious growth plans.”
“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,” according to Rowan Bird, investor at BGF.
Verisk’s investment in the business provides an exit for CPP, a UK-based provider of assistance and insurance products, which has backed the business since 2018.
“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,” said Tim Rayner, president of Specialty Business Solutions at Verisk.
Source: KYND
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