Stoïk, a French insurtech company specializing in cyber insurance and cybersecurity solutions for small and medium-sized enterprises (SMEs) across Europe, has closed a €20 mn Series C funding round, co-led by Impala as a new investor and Opera Tech Ventures, which returns for the round. Existing backers Alven and Andreessen Horowitz also participated.
Founded in 2021, Stoïk operates as a European cyber insurtech serving companies with revenues up to €1 bn.
The business focuses on cyber risk coverage built around an integrated operating model that combines insurance, prevention, and incident response rather than treating them as separate services. This structure increasingly appeals to mid-sized firms exposed to cyber risk but lacking internal security teams.
According to Beinsure, in October 2024, Stoïk raised €25 mn in a Series B round led by Alven, with participation from Andreessen Horowitz, Munich Re Ventures, Opera Tech Ventures, Anthemis, Cyber Integrity Capital, and Tokio Marine HCC International. The funds are supporting expansion across Europe and the scaling of Stoïk MDR. By late 2024, Stoïk expected to reach about 5,000 policyholders and €25 mn in annual premiums.
In 2023, Stoïk has raised €11 mn in a Series A round led by US investment giant Andreessen Horowitz (a16z) to roll out its hybrid insurance and cybersecurity product in European SME markets, with participate Alven, Anthemis, Henri De Castries (former CEO of AXA), Julian Teicke (CEO of wefox).
Its proactive prevention and crisis-management approach has positioned it as a fast-growing player in Europe’s SME cyber-risk market, bridging the gap between traditional insurers and dedicated cybersecurity providers.
The company was founded by Jules Veyrat, Alexandre Andreini, Nicolas Sayer, and Philippe Mangematin.
Its platform supports small and medium-sized enterprises before, during, and after cyber incidents, with the stated aim of keeping operations running, limiting financial losses, and accelerating recovery timelines.
The model relies on an AI-enabled 360-degree framework combining cyber insurance, continuous risk monitoring, and in-house response teams, now reinforced by proprietary AI agents.
Stoïk operates across France, Germany, Spain, Belgium, Austria, and Luxembourg. Nearly five years after launch, the company works with more than 2,000 broker partners, covers over 10,000 businesses, and employs more than 130 specialists across six European countries.
Growth has tracked steadily rather than explosively, a pattern investors increasingly reward in cyber insurance.
Chief executive and co-founder Jules Veyrat said recent performance reflects a disciplined business approach and tight financial control.
He described the round as deliberately sized to support the next phase of expansion without pushing beyond operational requirements. Capital allocation, he said, will focus on scaling the existing model and accelerating development of proprietary AI agents that support prevention, detection, and incident response.
Stoïk operates as a Managing General Agent (MGA), developing its own insurance products while partnering with major underwriters such as Tokio Marine HCC International and Munich Re Ventures.
The company distributes its cyber insurance through more than 1,000 partner brokers in France, Germany, and Austria, offering quick digital quoting and claims handling.
Its services pair cyber coverage with active monitoring tools and incident response capabilities. Core offerings include:
- Stoïk Protect: risk-prevention and threat-monitoring platform.
- Stoïk MDR: managed detection and response service providing SMEs with SOC-level security.
- Stoïk-CERT: in-house computer emergency response team supporting clients during breaches.
Stoïk distinguishes itself through its combined insurance-and-cybersecurity model, serving companies with turnovers up to €750 mn and coverage limits as high as €7.5 mn.
The funding supports further expansion of Stoïk’s cybersecurity and insurance capabilities and continued geographic rollout, with increased attention on Central and Southern Europe.
The company also plans to grow headcount from 130 to around 200 over the next 12 months, adding capacity across security engineering, incident response, and risk analysis functions.
According to Beinsure, European cyber insurance demand continues to rise among mid-market companies facing stricter regulatory expectations and growing attack frequency.
Stoïk’s strategy stays clear. Build operational depth first, scale distribution through brokers, and let underwriting follow real-world cyber behaviour rather than static assumptions.
