HSCM-backed insurtech CyberCube secures additional Series B funding

Insurtech CyberCube, a provider of cyber risk analytics to the insurance industry, has secured an additional investment from venture capitalist MTech Capital and Stone Point Capital.

The investment brings the cumulative amount raised in Series B to $40 million. Earlier in November 2019, the company secured $35 million funding led by Hudson Structured Capital Management (HSCM Bermuda) and existing investor ForgePoint Capital.

In connection with the latest investment, CyberCube has appointed additional members to its board of directors - Kevin McLoughlin and Justin Rispler.

McLoughlin, partner and co-founder of MTech, has spent 22 years in insurance investment banking, as the global head of insurance investment banking at Bank of America Merrill Lynch, and global head of insurance banking at Citigroup. Prior to that, he was at AIG for seven years in finance and investments.

Rispler is a vice president at Stone Point Capital and focuses on the company's investments in insurance distribution and insurance services.

Pascal Millaire, CEO of CyberCube, said: "Becoming the market-leading cyber risk analytics company serving the insurance industry is not just about creating data and updating software models - people and the insight they bring, are core to the success of any business from the Board level to our newest front-line employee."