Baobab Insurance offers insurance products that protect companies from cyberattacks, fraud, and software product failures, leveraging AI-native underwriting and active AI-native risk monitoring. The company says its underwriting and monitoring have helped prevent losses of over €10 million for customers. Baobab launched three years ago and operates from offices in Berlin and Cologne with a team of about 30 people. It raised a €12 million Series A to grow the team, expand its product range, and strengthen its position in Germany and Austria. The company plans to enter additional EU markets within the next 12 months. To date Baobab has raised a total of €20.1 million across pre-seed, seed and Series A. Baobab offers cyber insurance that covers damages from cyberattacks, including business interruptions, liabilities, and service costs, while also providing proactive risk reduction services. The company delivers attack surface management, continuous monitoring, and vulnerability checks to reduce customer exposure to hacks. Its platform uses machine learning models to optimize risk selection, pricing, and mitigation aimed at improving loss ratios. Baobab plans to distribute insurance via broker partnerships and is developing the product in close collaboration with brokers to help them explain cyber threats to clients. The startup was founded in 2020 by Vincenz Klemm and Anton Foth and has already hired senior hires in product, pen testing, and underwriting. The company raised funding to hire insurance professionals and technical and cyber security experts and will launch in Germany in early 2022 followed by other European markets.

Total raised

$18M

Funding rounds

2

Latest round

Series A

Latest activity

Jun 2025