KYND secures new funding to advance cyber risk management

KYND, a company in cyber risk management solutions, has announced a significant investment to fuel its expansion and continued growth.

This financial backing is provided by Verisk, a top-tier global provider of data analytics and technology, along with BGF, a leading growth capital investor in the UK and Ireland with extensive experience.

Established in 2018 by Andy Thomas and Melanie Hayes, KYND has introduced a cyber risk monitoring platform that offers real-time, ongoing insights into an organisation's cyber risk stance. The platform provides clear, actionable cyber risk intelligence, facilitating swift and informed decision-making within the cyber ecosystem.

The company has earned recognition as a top innovator in global cyber risk management, clinching awards such as “Cyber Security Product of the Year” at the Risk Management Awards and ‘Cyber Risk Management Solutions Provider’ at the Fintech Awards in 2023.

Following its Series A funding round in early 2022 led by BGF, KYND has broadened its array of advanced products and sector-specific solutions. These offerings are now utilised by prominent insurers and brokers, including Beazley, Howden, and Alliant, as well as by private equity firms like Phoenix Equity Partners. Moreover, KYND has made significant inroads into the US market, establishing a dedicated team in Austin, Texas.

The latest investment from BGF and Verisk will be instrumental in supporting KYND's international growth ambitions and in the ongoing development of pioneering cyber risk technologies.

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 & 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.”

Rowan Bird, investor at BGF, said: “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.”

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.

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.”