London-based DynaRisk, a cyber risk management firm specialising in insurance-linked cybersecurity solutions, has raised $4.7m in fresh funding to support its international growth and product innovation.
The funding round was led by YFM Equity Partners, with advisory support from Broadfield Law, HMT, RPL, Leckie Kershaw, Fortius, and Catalysis. PwC acted as lead financial adviser to DynaRisk on the transaction.
Founded in 2016 by former banking cybersecurity expert and self-taught hacker Andrew Martin, DynaRisk focuses on helping insurers, brokers and MGAs offer effective cyber protection to policyholders. The company was born from a gap in the market for accessible and intelligence-backed cyber risk solutions tailored for individuals, families and SMEs.
With growing global demand for cyber insurance and incident response, the funding will be used to scale DynaRisk’s commercial and technical operations across EMEA, North America and Asia-Pacific.
DynaRisk embeds its threat intelligence-powered software within insurance offerings, enabling vulnerability scans, dark web monitoring, education, and cyber incident response. The platform is designed to improve underwriting, reduce loss ratios, increase engagement and ultimately help prevent attacks before they occur.
The company also recently added serial entrepreneur Phil Zeidler to its board. Zeidler brings extensive experience building InsurTech businesses.
DynaRisk CEO Andrew Martin said, “Brokers, MGAs and (re)insurers are rushing to tap the fast growing cyber insurance market as cyber risk is now one of the most pressing challenges for consumers and SMEs globally. While working with global banks, I saw how larger corporations were using expensive and complex enterprise-level software and services and wanted to put these in the hands of more people.
“DynaRisk bridges that gap for the insurance sector, helping them protect their policyholders with industry-leading threat intelligence backed risk management and underwriting software, along with cyber incident response services. YFM quickly understood our vision and their support will be critical as we scale globally and continue to evolve our platforms to meet growing demand.”
YFM Equity Partners investment director Matt Gordon-Smith said, “DynaRisk has built impressive platforms and a client base in one of the fastest-growing segments of the insurance market. With cyber threats escalating and insurers and brokers under pressure to add more value to their policyholders, DynaRisk’s embedded intelligence platforms and services are ideally positioned.
“We are delighted to back Andrew and his team as they grow their international footprint and continue to lead innovation in cyber risk management.”
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