The funding round, led by venture capitalists Invisto.com.vc and Bossa Invest, alongside strategic stakeholders from the insurance industry, underscores Bluecyber’s commitment to fortifying digital life protection across Latin America.
Renowned for its tailored digital protection insurance for small and medium-sized enterprises (SMEs) and families, Bluecyber aims to democratize insurance coverage in the region, which boasts an estimated gross written premium (GWP) of $17.3 billion. The recent investment reflects investor confidence in Bluecyber’s vision and its potential to address evolving cybersecurity needs in the digital age.
Bluecyber’s CEO, Eduardo Rocha, highlighted the strategic importance of the funding in unlocking opportunities within the Latin American market. The company’s pioneering approach to insurtech, coupled with its recent acquisition of Ismac.io, positions Bluecyber to enhance risk management and compliance capabilities.
The infusion of funds will support Bluecyber’s strategic expansion across Latin America and facilitate the integration of Ismac.io’s Managed Detection and Response (MDR) platform. This technology will enable Bluecyber to enhance its ability to detect and respond to security incidents effectively, further solidifying its position as a leader in cyber insurance.
The investment has already enabled the acquisition of Ismac.io, which developed an innovative Managed Detection and Response (MDR) platform. “This solution allows Bluecyber to continuously monitor its insured portfolio, detecting and responding to security incidents swiftly and efficiently, minimizing the impact of attacks, and delivering more value to the insured, as well as reducing the frequency and severity of claims,” said Daniel Arruda, Ismac’s founder, who will take over the management of risk and compliance at Bluecyber.
Beyond financial compensation for claims, Bluecyber offers a comprehensive suite of services including technological support, antivirus solutions, vulnerability monitoring, risk management, and incident response. Founded in 2021, the company has swiftly established itself as a Managing General Agent (MGA) in the cyber insurance space, prioritizing customer-centric product development and innovative distribution channels.
Partnering with Seguros Sura, a leading insurance group in Latin America, Bluecyber ensures compliance with regulatory standards, reaffirming its commitment to providing reliable cyber protection solutions in the region. With a digital-first approach to B2B sales, Bluecyber aims to reach 10,000 subscribers by the end of 2024, further advancing its mission to simplify cyber protection for businesses and families alike.
“We are confident that this new phase will be a watershed in the cyber insurance industry, offering innovative and comprehensive solutions,” added Bluecyber’s co-founder Claudio Macedo.
