Zurich Insurance Group has invested around £45m in cyber insurance provider Cowbell via Series C Funding. Cowbell said it would use the funding to scale up its operations, develop new products, enhance its cyber resilience services and strengthen its commercial partnerships.

Sierra Signorelli, CEO of commercial insurance at Zurich, said: “Cyber threats remain a major concern for business leaders due to their constantly evolving nature. To address this, we continue to invest in enhancing our cyber capabilities and building a strong support system for our customers. Cowbell is an excellent partner for managing cyber risks.”

Jack Kudale, founder and CEO, Cowbell said, “This investment from Zurich is the strongest endorsement of Cowbell’s vision and capabilities yet and deepens our footprint in the global cyber insurance market.

“With a refined focus on product expansion, we will accelerate our efforts to deliver advanced and efficient cyber insurance solutions to SMEs and mid-market businesses globally, ensuring they have the protection and tools they need to navigate the rising threats in the evolving cyber landscape.”