Stoïk offers cyber insurance tailored to SME risk profiles alongside a prevention platform (Stoïk Protect) and an in-house incident response team (Stoïk-CERT). In April it launched Stoïk MDR, a managed cybersecurity service providing SOC capabilities to SMEs. The company distributes through insurance brokers and has attracted over 1,000 brokers across France, Germany, and Austria; its recently opened Cologne office has generated several million euros in premiums via more than 100 local brokers. Stoïk is on track by the end of 2024 to reach 5,000 policyholders, €25 million in premiums, and strong underwriting profitability. The firm recently increased its capacity to insure companies with turnovers up to €750 million and raised coverage limits to €7.5 million. Going forward, Stoïk plans to scale distribution of Stoïk MDR through partner brokers, expand its European footprint, and introduce adjacent coverages such as Professional Indemnity for specific industry verticals. Stoïk provides cyber insurance products and incident-response support specifically for SMEs, including an incident hotline. The coverage can compensate for loss of revenue (gross operating margin) during an incident and offers third-party liability for data-breach claims. Stoïk performs active monitoring such as DNS checks and scans online databases for password leaks tied to customers' domains, and runs employee cybersecurity awareness programs with phishing simulations and tutorials. The company has moved distribution off its website and sells via third-party insurance brokers. About 1,500 brokers offer Stoïk products and roughly 2,000 companies have signed up. Stoïk plans to expand into Germany as its second market and raised funding to support that expansion. Stoïk offers a combined product that pairs internal and external security and risk monitoring software with an insurance product distributed via cyber insurance broker partners, targeting underserved SMEs. The company was founded by Jules Veyrat, Alexandre Andreini, Nicolas Sayer, and Philippe Mangematin. Stoïk raised a €11 million Series A led by Andreessen Horowitz after a €3.8 million seed round less than six months earlier. The new capital is earmarked to support expansion into additional European markets via localized, regulatory-compliant adaptations. Management said the round will fund hires in commercial insurance profiles to meet partner broker demand and expansion of engineering teams to continue developing the security solutions. The fundraise responds to a surge in cyber threats — including sharp increases in phishing, identity theft, insider threats, information leakage, and ransomware — that motivated the founders to address SME needs. Stoïk offers a combined insurance product and security monitoring service aimed at protecting SMEs from ransomware and other cyberattacks. Customers sign up to a monitoring service that scans domain names, DNS records, IP addresses and public password leaks, produces a security score, and provides remediation tips. If a customer meets a score threshold and generates under €50 million in annual revenue, they can subscribe to Stoïk’s insurance product, which is sold directly to customers and on which Stoïk takes a cut. The company has a team of about 15 and is currently in a pre-launch phase with contracts that range from €50 to €400 per month. Stoïk has signed partnerships with insurance companies to design its insurance products and works with a third party, Inquest, to handle crisis management. Planned product roadmap items include adding internal-account scanning and deeper checks such as AWS configuration scans to surface additional vulnerabilities.

Total raised

$54M

Funding rounds

4

Latest round

Series B

Latest activity

Oct 2024