Bermuda-based (re)insurance firm AXIS Capital Holdings Limited announces its partnership with leading global cyber security start-up accelerator CyLon.
The partnership between AXIS and CyLon aims to educate cyber security start-ups on the opportunities and challenges essential in the cyber insurance market around the world and will see the two firms working together with start-ups entering CyLon's cyber security accelerator cohort in London. The two companies will also co-host industry events and produce industry research and reports on the cyber security market.
Since its launch in April 2015, CyLon has successfully supported more than 80 companies globally and has a portfolio of investments valued at more than £400mn. CyLon alumni have created more than 350 new jobs and have raised more than £120mn of follow-on funding.
Dan Trueman, global head of cyber and technology at AXIS said: “We’re pleased to partner with CyLon in the advancement of the global cyber security ecosystem. As firms face an ever-more dynamic cyber risk environment, it’s important that they have access to creative and innovative cyber security resources and services. Through our partnership with CyLon, we will work together to mentor and educate cyber security start-ups so they are accurately aligned to help companies mitigate their cyber risks.”
Grace Cassy, co-founder of CyLon, commented: "We are delighted to welcome AXIS Capital as a new partner to CyLon. AXIS Capital's extensive knowledge and expertise in the cyber insurance market will provide huge benefit to CyLon companies, and will present new opportunities for partnerships and growth. We look forward to working closely with AXIS Capital as we continue our mission to find, grow and invest in the world's best emerging cyber businesses."