Antler, a global early-stage venture capital firm based in Singapore, announced Wednesday that it has invested €100,000 in Amsterdam-based Insiber, a platform for SMEs to address cybersecurity risks. did.
Company founders Guido van Nispen and Vitaly Shtyrkin met in 2022 at Antler’s Amsterdam residence. With the launch of Insiber, the co-founders aim to give small businesses easy access to the best tools and cyber insurance for their business. individual requirements.
Antler Partner Youri Doeleman said: Therefore, the Insiber team understands that meeting this market requires flexible and customizable solutions. Given the scale of cyber risk combined with underinsurance in the SMB segment, the market needs to mature rapidly. Insiber’s cyber resilience platform brings this rapid scalability together by bringing together related security providers and insurers without having to develop and maintain every solution in-house. ”
“Insiber, Guido, Vitaly and their team are making the world safer for all of us and solving big problems that could easily upend our lives if not addressed.” Doeleman adds.
One-stop platform for cyber security and cyber insurance
According to Antler’s statement, the cybersecurity and cyber insurance market is not yet mature. Every day, new malware, ransomware, phishing, and data breach threats are created, posing enormous social and economic risks that insurers around the world are increasingly concerned about.
According to Allianz Risk Barometer, 44% of risk management professionals identified cyber incidents as the most significant business risk in 2022. Over 90% of small businesses have a moderate to high cyber risk profile, according to Insiber research. According to Cyber Crime Magazine, the cost of cyber events is projected to rise from $6 trillion in 2021 to $10.5 trillion in 2025. As a result, the hurdles to properly insuring against cyber risks are rising.
This is where Insider makes a difference. It is a free, all-in-one SaaS platform that supports cyber resilience and gives SMEs access to insurance and cyber safety.
The startup said that different SMEs will always require different safety and insurance standards, depending on, for example, the countries in which they operate, the amount and sensitivity of data they handle, relationships with suppliers, and the configuration of their IT infrastructure. thinking about. .
Insiber also facilitates ecosystem-wide collaboration between all major players, including SMEs, cybersecurity service providers, cyber insurers and insurance consultants. This contrasts with his traditional SME cybersecurity solutions, which focus on a handful of in-house technologies. By bringing these parties together on a single platform, the company says it can uniquely map a suite of cybersecurity solutions and related insurance policies to each small business.
Guido van Nispen says: Yet, their cyber risks are so poorly insured that they expose these companies to enormous risk and serious threats to their continuity. The small business market needs to step up cyber hygiene. There is a need to assess company-specific cyber risk profiles and define coverage areas to encourage small businesses to improve their cyber security and risk management controls. ”
About Antler
Founded in 2017 by Magnus Grimeland and a team of entrepreneurs, investors and company founders, Antler is an early-stage venture capital firm aimed at radically improving the world. VCs want to build thousands of companies around the world that solve “real” problems.
Founded on the belief that people’s innovation is the key to building a better future, Antler partners with people in 25 cities on six continents to create start-ups that are likely to address meaningful opportunities and challenges. We are launching and expanding.
Antler has invested in and helped build over 600 companies across industries and technologies with the goal of supporting 6,000+ by 2030. The company has offices worldwide in most major entrepreneurial hubs such as London, Berlin, Stockholm and New York. , Singapore, Sydney.