Cyber risk management solutions provider, Kynd, has secured investment from Verisk and additional investment from existing backer, BGF to grow is cyber offering.

Founded in 2018 by Andy Thomas and Melanie Hayes, Kynd has developed a cyber risk monitoring platform designed to deliver insights into cyber risk profiles.

Andy Thomas, chief executive of Kynd, said: “The threat of cyber crime 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 and 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, added: “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, commented: “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.”

Kynd is the recipient of the 2023 Risk Management Award for Cyber Security Product of the Year.

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