1Fort Raises $2 Million to Automate and Simplify Cyber Insurance for Businesses

1Fort, a Leading Cyber Insurance Automation Platform, Secures $2 Million Pre-Seed Funding

Key Takeaways:

  • 1Fort, a cutting-edge cyber insurance automation platform, has successfully raised $2 million in a pre-seed funding round. The funding will be used to accelerate the development and evolution of 1Fort’s solution, which aims to simplify the cyber insurance procurement process for middle to large businesses and insurance brokers.
  • Notable investors in the funding round include Village Global, 8-Bit Capital, Operator Partners, Character, Company Ventures, and BrokerTech Ventures, among others. This strong backing demonstrates the confidence in 1Fort’s vision and potential to revolutionize the cyber insurance landscape.

Simplifying Cyber Insurance Procurement for Businesses

With the increasing frequency and severity of cyber attacks, businesses seeking cyber insurance face challenges in meeting the stringent security control requirements set by insurers. Implementing these controls can be complex and resource-intensive, while insurance brokers often struggle to guide their clients through the process.

1Fort addresses these challenges by offering an easy-to-use platform that enables middle to large businesses to efficiently meet security control requirements for cyber insurance. By connecting with businesses’ existing tools through APIs, 1Fort provides real-time visibility into their security posture and helps them address vulnerabilities. This allows businesses to become insurable, obtain better coverage terms and pricing, and elevate their cyber resilience by proactively mitigating security risks.

Anthony Marshi, Co-Founder and CEO of 1Fort, emphasized the importance of providing all businesses with easy access to financial protection from cyber attacks. By democratizing cyber resilience, 1Fort aims to make cyber insurance more accessible and efficient for businesses of all sizes.

1Fort partners with retail brokers to offer its platform to businesses, enabling brokers to better support their clients in meeting security control requirements and streamlining the cyber insurance procurement process.

Streamlining Cyber Insurance Readiness

1Fort’s participation in the BrokerTech Ventures (BTV) accelerator has further strengthened its collaboration with top brokerages and demonstrated the impact of its solutions. BTV represents 13 of the largest independently owned insurance brokerages and 14 of the largest insurance companies in North America.

The funding secured by 1Fort represents a significant milestone in its mission to bridge the gap between cybersecurity and insurance. The investment will be utilized for product development, hiring key talent, and fostering relationships with brokers.

Anne Dwane, Co-Founder and Partner at Village Global, highlighted the opportunity in the cyber insurance market to simplify the implementation of security controls required by insurance providers. Dwane expressed excitement in supporting 1Fort as it leverages cutting-edge technology to automate the cyber insurance readiness process.

About 1Fort

1Fort is a leading cyber insurance automation company dedicated to simplifying the acquisition and management of cyber insurance for businesses. The platform seamlessly integrates with businesses’ existing tools, allowing for automated detection and resolution of security issues. With a committed team and strong venture backing, 1Fort aims to democratize cyber resilience and bring financial security to the digital world.

JustPaid Launches AI-Powered Finance Tools for Small Businesses

Loora, the Generative AI Tutor, Emerges From Stealth to Democratize Access to English Fluency