Resilience, a leading cyber insurance and security solutions firm, announced the completion of $80 million Series C funding round led by General Catalyst and Corey Thomas of Rapid7, with participation from Founders Fund, Charles River Ventures, Lightspeed Venture Partners, Shield Capital, and Intact Ventures.
The investment comes as Resilience moves forward with plans for mid market expansion and international expansion. Middle-market businesses – manufacturing, universities, agriculture, hospitals, and construction – are the backbone of the American economy. As ransomware attacks are rising, the hardened cyber insurance market has allowed newcomers with a fresh perspective to make it to the top.
“We took a deliberate approach entering the middle market. Our clients are discerning buyers with sophisticated infrastructure. We proactively connect their security posture with their insurance policy, not as vendors, but as partners. That personal, integrated approach of transparency and action is what makes us so. This funding round signals that the market is ready for our insure + secure model different,” said Vishaal “V8” Hariprasad, CEO of Resilience.
Resilience has created an Insure + Secure business model that offers its clients with both tailored insurance and security solutions. From risk assessment to post-bind vulnerability monitoring, a team of in-house security engineers works with clients.
“Resilience is building the leading cyber risk and response platform for the insurance industry, helping mid-market enterprises identify and integrate the best insurance and security solutions for their business needs. It’s more than risk mitigation – it’s bespoke security solutions combined with an insurance policy that provides clarity and certainty. General Catalyst is proud to co-lead this funding round with Corey Thomas as we believe Resilience’s integrated model is the future of cyber risk,” said David Fialkow, Managing Partner and Founder at General Catalyst.
“Resilience’s expertise, combined with an innovative approach to cyber risk, deliver unparalleled value for clients. The team has seen tremendous progress in the past year, setting the course for responsible and profitable growth. Intact Insurance Specialty Solutions is pleased to be a carrier partner,” said Michael Miller, CEO, Global Specialty Lines, Intact.
“At Intact Ventures, we are thrilled to increase the size of our commitment and to invest in a world-class team building a category-defining business,” said Justin Smith-Lorenzetti, Intact Ventures.
This financing enables Resilience to accelerate delivery of Insure + Secure solutions more broadly in North America and now globally.