CPP InsurTech investment KYND secures funding from the British Growth Fund
CPP Group is pleased to provide an update on its investment, KYND, a provider of pioneering cyber risk management solutions to the insurance industry.
KYND has secured £3.25m of investment from BGF, a UK and Ireland-based growth capital investment company that provides funding as a minority, non-controlling equity partner.
Founded in 2018, KYND has developed an industry-first API-based technology platform that gathers and processes data to assess cyber risk for small and mid-market companies, insurers, brokers, and their clients, providing instant and meaningful insights into exposure. KYND has achieved 1000% growth on annual recurring revenue since June 2020 and developed partnerships with high-profile insurers and brokers, such as Beazley, Howden, Paragon and Alliant.
BGF’s investment will be used to accelerate KYND’s growth and global expansion plans while supporting the development and launch of cutting-edge cyber risk technology products.
CPP Group acquired a stake in KYND in March 2018 as part of its strategy of investing in innovative people, businesses and products that are relevant to its distribution partners internationally.
Jason Walsh, CEO of CPP Group, commented:
“KYND’s goal of simplifying and improving cyber insurance is highly complementary of our own objective of reducing disruptions for people across the world through the use of easy-to-use solutions, making it a great fit for the Group.
“We’re proud to be associated with such a promising UK tech business as it continues to develop innovative products that capitalise on the increasing demand for cyber insurance worldwide, adding value to CPP’s offering alongside those of some of the biggest names in the industry.
“To secure this quantum of investment from one of the most highly regarded funds in the UK is a great endorsement of the incredible work the team at KYND are doing, and I wish them continued success as they move into their next phase of growth.