London-based DynaRisk has raised $4.7 million in a funding round led by YFM Equity Partners. DynaRisk is a “cyber intelligence SaaS provider” supporting insurers to identify, monitor, and reduce policyholder cyber risk
Founded in 2016, the company was created by CEO Andrew Martin, who is said to have recognised that the insurance industry needed more tools to help them tap the fast-growing cyber insurance and cyber assistance market.
The new money is expected to help DynaRisk expand its operations across EMEA, North America, and Asia-Pacific.
Martin says that Brokers, MGAs and (re)insurers are rushing to tap the fast growing cyber insurance as it is one of the most pressing challenges for consumers and SMEs globally.
“While working with global banks, I saw how larger corporations were using expensive and complex enterprise-level software and services and wanted to put these in the hands of more people.
DynaRisk works by embedding its cyber‑risk solutions into insurance offerings, with its software providing vulnerability scanning, dark web monitoring, cybersecurity scores, training and education, and tailored remediation guidance.
DynaRisk reports that it currently supports more than 25 insurance customers worldwide, covering approximately 2.4 million consumers and 800,000 SMEs.