Upfort provides a combined cyber security and insurance platform that streamlines cyber insurance underwriting and risk management for insurers, brokers, and their clients. Its proprietary technology and intelligent automation include AI-powered email protection, network defense, security training, and ongoing monitoring tuned to prevent incidents that cause widespread financial damage. The platform integrates risk assessment, mitigation, and insurance policies to simplify a historically cumbersome and costly underwriting process. An 18-month study of a leading cyber insurance program found that policyholders who fully implemented Upfort Shield were significantly less likely to file a claim, with an 80% reduction in claim likelihood. The company transitioned from Paladin Cyber to Upfort to reflect expanded capabilities as a one-stop shop for cyber security and insurance. Upfort says the new investment will enable it to build on these efforts and continue its mission of accelerating global cyber resilience. Paladin Cyber offers a suite of proprietary tools and resources for small and mid-sized businesses and government entities to assess and manage cyber exposures. Its product set includes training simulations to identify phishing scams, software to protect against malicious code and hacking, and services such as phishing inbox protection, cross-site-scripting protection, public WiFi protection, a browser content filter, and a password manager. The company also provides qualified resources for cyber education and incident response and ties its software solutions to commercial cyber insurance terms with competitive premiums. Paladin made its comprehensive commercial cyber insurance policy available on an admitted basis in Arizona, with Oregon, Colorado and Nevada to follow later in the year; the policy is underwritten by National Specialty Insurance Company and administered by Boost Insurance and offers limits from $50,000 to $1 million across a range of first- and third-party coverages. Founded in 2017 and led by CEO Han Wang, Paladin plans to use new funding for continued national insurance expansion and further investment in its proprietary security platform. The company raised $3.6M in its latest financing, bringing total funding to $4.5M.

Total raised

$12M

Funding rounds

2

Latest round

Series A

Latest activity

Oct 2023