Participated · Series A · May 2020

Envelop Risk is a specialty cyber and emerging risk underwriting firm that uses proprietary AI, machine learning, security analytics, economic and behavioral analysis, and modeling & simulation to assess cyber risk. Founded in 2016 and based in Bristol, UK, the company applies an augmented intelligence approach that combines human underwriting expertise with automated analytics. Its proprietary models and data-driven underwriting have underwritten over $250M of business since 2018. The company plans to expand its ML- and data-driven underwriting activity in London and Bermuda and accelerate growth into new global markets. It also intends to expand operations in cyber (re)insurance and cyber technology partnerships and to invest in predictive analytics to better assess the economic consequences of cyber risks to commercial enterprises. Envelop Risk provides proprietary, machine-learning-driven underwriting and risk analytics for the global cyber reinsurance market. The firm combines AI, security analytics, intelligence gathering, economic and behavioral analysis, and human underwriting expertise to model cyber and emerging risks. Envelop offers bespoke underwriting solutions and partners with specialist underwriters to price complex, traditionally opaque cyber risks. The company intends to expand both within and beyond cyber (re)insurance and to grow internationally. Headquartered in Bristol, UK, Envelop Risk also has offices in London, New York, and Bermuda. Management says the business became a dominant force in cyber reinsurance in under three years and will use new capital to accelerate product and market expansion.