Startup company for cyber-insurance Elpha Secure revealed this week that it has raised USD 20 million in a Series A funding round, which was spearheaded by Canapi Ventures. AXIS Capital, EOS Venture Partners, Fermat Capital Management, The Hartford STAG Ventures, State Farm Ventures, and Stone Point Ventures were among the previous investors who took part.
The New York-based company, which was established in 2018, provides a solution designed especially for small and midsize businesses that combines cybersecurity and insurance policies. Customers are protected by Elpha Secure through features like encrypted data backups, MFA for remote desktop connections, anomaly detection using machine learning, and software version control.
In order to lessen attack surfaces and eliminate risks, the company also says it can assist customers’ employees in maintaining and improving the cyber health of their organizations.
Read more: Cyberinsurance Startup Elpha Secure Raises $20 Million
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