Upfort, a San Francisco, CA-based cybersecurity and insurance solutions provider, raised $8 million in a Series A funding round.
SaaS Investors
The round was led by SYN Ventures, with participation from Eniac Ventures, Fika Ventures, Altai Ventures, Chaos Ventures, Aquila Capital Partners, Gaingels, and Cyber Mentor Fund.
SYN Ventures is a venture capital firm focused on investing in disruptive and innovative security companies in the cybersecurity, industrial security, national defense, privacy, regulatory compliance, and data governance industries. Founded in 2021 and based in West Palm Beach, Florida.
Upfort Use of Funds
The funding will support Upfort in enhancing its cybersecurity offerings and expanding its presence in the cybersecurity and insurance solutions landscape, emphasizing the importance of cybersecurity in safeguarding SMEs against digital threats.
About Upfort
Founded in 2017, Upfort specializes in providing cybersecurity protection and insurance solutions tailored for small and medium-sized enterprises (SMEs). Their offerings include comprehensive cyber risk mitigation strategies and insurance coverage. Its AI-powered email protection, network defense, security training, and ongoing monitoring are trained on and tuned to prevent incidents causing widespread financial damage to businesses. Upfort's insurance agency holds licenses to operate in all 50 states and Washington, D.C.
Funding Details
Company: Paladin Data Insurance Corp.
Raised: $8.0M
Round: Series A
Funding Month: October 2023
Lead Investor: SYN Ventures
Additional Investors: Eniac Ventures, Fika Ventures, Altai Ventures, Chaos Ventures, Aquila Capital Partners, Gaingels, Cyber Mentor Fund
Company Website: https://www.upfort.com/
Software Category: Cybersecurity Protection and Insurance Solutions
Source: https://www.insurtechinsights.com/upfort-secures-us8-million-in-series-a-funding-for-cybersecurity-and-insurance-solutions/