Envelop Risk secured $6 million in Series A Funding Round led by Alpha Intelligence Capital

Envelop Risk, a data-driven underwriting and risk analytics firm, has now secured $6 million in Series A round of funding.

Envelop Risk is founded by Jonathan Spry. It is a global specialty cyber and emerging risk insurance analytics and underwriting company.

Its model addresses the complexity of cyber and some other emerging risks by combing AI, analytics, intelligent gathering, and simulation and modeling.

Executive Opinion

Envelop Risk CEO, Jonathan Spry, said, "We are thrilled to have received the support of AIC, a recognized leader in AI investment, and are pleased to become their first major InsurTech investment. Having the benefit of Antoine Blondeau as an advisor and the support of the whole AIC team will greatly help Envelop Risk through its next stage of growth. The current COVID crisis is posing important questions for the insurance industry, and we believe cyber (re)insurance will benefit from demand for risk mitigation, allowing Envelop to become the partner of choice for insurers as growth opportunities and emerging risk business ensue in the new normal. Envelop is a natural partner for traditional insurers and underwriters to disrupt the market space of cyber-insurance- we’ve helped reimagine and reshape how cyber-risk is priced in a traditionally opaque and complex market. Now, we would like to move onto our next chapter and partner with underwriters globally to reach more companies at Risk of cyber breaches, cyber-attacks, and other emerging areas of supply-chain complexity."

Envelop Risk's Latest Funding

The round was backed by the Alpha Intelligence Capital, with participation from two existing investors Dymon Asia Ventures and MS Amlin.

The company, as of now, has plans to use the new funds to invest in machine learning and data-driven underwriting activity in two of its location that is Bermuda and London, and grow both beyond and within cyber insurance.

The company has offices in New York, London and Bermuda.