Brazilian insurtech Bluecyber, specialising in cyber insurance, has raised $1.5 mn in funding led by venture capitalists Invisto and Bossa Invest, alongside strategic stakeholders from the insurance industry, underscores Bluecyber’s commitment to fortifying digital life protection across Latin America.
Bluecyber customizes digital protection insurance for small and medium-sized enterprises, and seeks to make insurance coverage in a region where the gross written premium stands at $17.3 bn.
This financial backing underscores the trust investors place in Bluecyber’s vision and its capability to meet the changing cybersecurity insurance needs of the digital era.
Eduardo Rocha, the CEO of Bluecyber, emphasized the significance of this investment for exploring new opportunities in the Latin American market.
The company’s innovative approach to insurance technology, along with its recent purchase of Ismac, allows Bluecyber to improve its risk management and compliance services.
Daniel Arruda, Ismac’s founder, will take over the management of risk and compliance at Bluecyber.
This solution allows Bluecyber to monitor its insured portfolio, detecting and responding to security incidents swiftly and efficiently, minimizing the impact of attacks, and delivering value to the insured, as well as reducing the frequency and severity of claims
Daniel Arruda, Ismac’s founder
The injection of capital will aid Bluecyber’s strategic growth throughout Latin America and support the integration of Ismac’s Managed Detection and Response platform.
Bluecyber goes beyond merely offering financial compensation for claims; it provides an extensive array of services, including tech support, antivirus solutions, vulnerability assessments, risk management, and incident response.
Since 2021, the company has become a Managing General Agent (MGA) in the cyber insurance field, focusing on user-friendly product development and innovative sales channels.
We are confident that this new phase will be a watershed in the cyber insurance industry, offering innovative and comprehensive solutions
Claudio Macedo, Bluecyber’s co-founder
By collaborating with Seguros Sura, a top insurance group in Latin America, Bluecyber ensures it meets regulatory requirements, highlighting its dedication to delivering dependable cyber protection solutions in the area.
With a digital-first strategy for business-to-business (B2B) sales, Bluecyber sets an ambitious goal to acquire 10,000 subscribers by the end of 2024, aiming to streamline cyber protection for both businesses and families.
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