Inscora, a Montreal-based company providing automated cyber risk assessment and sales enablement solutions for cyber insurance brokers, announced it has raised $2 million in funding. The funding round was led by Luge Capital, and participants included Desjardins Capital, Accelia Capital, Inovia Capital, and angel investors from the cybersecurity industry.
The company was co-founded by repeat cybersecurity entrepreneur Gabriel Tremblay – who previously co-founded Delve Labs (acquired by Secureworks), along with Pierre-David Oriol, former VP of Product at Delve Labs, and Guillaume Raymond, former Director of Engineering at digital health company Dialogue (acquired by Sunlife).
Inscora’s platform empowers insurance brokers with a next-gen cyber brokerage approach, which enables them to accurately and effortlessly assess a company’s cyber risk posture, support their clients to incorporate cybersecurity best practices, and dramatically accelerate the cyber insurance application process. The end result is increased customer value, better risk-adjusted premiums, alaong with higher sales conversion.
The funds will be used to further develop Inscora’s platform, expand the team and launch the product in Canada and the U.S. And Inscora is already working with select insurance industry players in its early trial program.
KEY QUOTES:
“We have spent our careers developing products that help organizations protect themselves against cyber attacks. Inscora represents a unique opportunity to apply this expertise to the ever-evolving field of cyber insurance and improve the efficiency of insurance brokers as well as the security posture of the insured clients. We are thrilled to have the support of such esteemed investors to help us now go to market.”
– Gabriel Tremblay, CEO and Co-Founder of Inscora
“We have seen, first hand, how complex purchasing cyber insurance can be and the lack of tools available to the insurance industry to guide clients to implement stronger security measures within their organizations. Inscora is solving both of these important issues to support the ever-evolving cyber insurance industry.”
– David Nault, General Partner at Luge Capital
