CyberCube, a cyber risk modeling and analytics business, today announced an investment of $180 million+ by Spectrum Equity, which is said to be subject to customary regulatory approvals.
With this investment, Spectrum Equity is joining existing investors ForgePoint Capital, Hudson Structured Capital Management Ltd, and MTech Capital, as a key institutional investor, enabling the firm’s growth objectives.
CyberCube is the analytics engine focused on enabling sustained, global growth in cyber insurance.
It is currently partner to more than 130 clients that span across the cyber (re)insurance value chain and other segments as well.
Its solutions are said to be utilized by the majority or 75% of the top 40 US and European cyber insurers (by gross written premiums) as well as most of the global brokers, the company claims.
It also noted in the announcement that blue-chip and emerging participants in the cyber insurance sector “trust” CyberCube’s analytics to make informed business decisions “on risk distribution, risk selection, and portfolio and capital management.”
The investment will fuel the long-term development of CyberCube’s products and solutions to quantify cyber risk while expediting go-to-market expansion in the insurance, reinsurance, as well as broking industry.
With this investment, CyberCube would aim to deliver more impact, at scale, across the insurance value chain and beyond to organizations and society.
Pascal Millaire, CyberCube CEO, claimed:
“Cyber has the potential to become one of the largest lines of Property and Casualty insurance, as internet-connected technologies and artificial intelligence transform all corners of the global economy.”
CyberCube has reportedly appointed a new Chair of the Board of Directors, Scott G. Stephenson, former Chairman, President, and CEO of Verisk.
Stephenson has been a member of CyberCube’s Board since 2022.
CyberCube software-as-a-service updates in 2025 include:
- The launch of Exposure Manager (XM), the first and only tool that allows (re)insurers to evaluate cyber risk across entire portfolios efficiently with powerful, quantified data. (Re)insurers can now, for the first time, access the underlying data across their cyber portfolios, empowering them to independently audit portfolios, benchmark portfolio risk quality, and proactively manage risk over time. As part of CyberCube’s broader suite, which includes solutions such as Portfolio Manager for catastrophe modeling, Account Manager for single-risk underwriting, and Broking Manager for broker analytics, XM completes a comprehensive ecosystem that enables the insurance industry to manage cyber risk from every angle.
- The milestone release of Version 6.0 of the flagship product Portfolio Manager, a scenario-based catastrophe model that empowers portfolio-level insights for senior leadership decision-making. Version 6.0 unveils a new era of specific, actionable cyber catastrophe modeling. Drawing on companies’ security scores and introducing several new risk modifiers, users can understand what will best prepare organizations to avoid the consequences of catastrophic events, if possible, and to recover as smoothly as possible if they cannot avoid it.
- Deeper adoption of Artificial Intelligence (AI) technology has been a part of CyberCube’s strategy since its inception. Alongside deep expertise in cybersecurity and insurance, CyberCube has continued to harness the power of its proprietary AI toolset and internet-scale large language models to drive insights from complex data to solve clients’ biggest problem — to meaningfully quantify cyber risk to maintain profitability and sustainability.
Latham & Watkins LLP represented Spectrum Equity as legal counsel on the transaction.
Evercore acted as financial advisor to CyberCube and Cooley LLP represented CyberCube as legal counsel on the transaction.