CyberCube raises $50 Million

Cyber analytics specialist CyberCube has secured $50 million in additional capital from investment funds managed by Morgan Stanley Tactical Value.

Continued participation also comes from existing investors Forgepoint Capital, Hudson Structured Capital Management (Bermuda), MTech Capital, and investors from Stone Point Capital. 

Scott Stephenson, former chairman, president and CEO of Verisk, also participated in the financing and will join the CyberCube board as a director. This latest financing brings CyberCube’s total capital raised to over $100 million.

CyberCube models cyber risk to allow insurers and brokers to understand their portfolios’ exposure to cyber threats while enabling their clients to better protect themselves. 

The company said the new funding will aid the commercial development of products and solutions to quantify cyber risk while accelerating go-to-market expansion in the global insurance, reinsurance and broking industry.

“This is an exciting milestone in our mission to empower modern industry and society with world-leading cyber risk analytics so everyone can make better decisions,” said Pascal Millaire, CEO of CyberCube. 

“In Morgan Stanley, we’ve found a tremendously supportive partner who recognizes the growing significance of cyber risk to the global economy and stands ready to support CyberCube as our business matures from an early market leader to a critical part of the analytics infrastructure in what is becoming one of the largest lines of P&C insurance globally.”

Pedro Teixeira, co-head of Morgan Stanley Tactical Value and managing director at Morgan Stanley, said: “CyberCube… presents both a strong investment opportunity and the ability for Morgan Stanley to play a positive role in the ongoing mitigation of global cyber threats.”