Last year, 8-Bit Capital invested in 1Fort, a cyber insurance automation company that simplifies the acquisition and management of cyber insurance for businesses.
Today 1Fort announced their $2 million pre-seed round of financing.
1Fort, gets strong backing to accelerate the evolution of its solution, simplifying the cyber insurance procurement process for middle to large businesses.
1Fort, a cyber insurance automation platform, has announced it has completed a successful US$2 million pre-seed round of financing. Major investors included Village Global, 8-Bit Capital, Operator Partners, Character, Company Ventures, BrokerTech Ventures, along with other venture firms and angel investors.
With the rise in cyber attacks, insurers have started requiring stringent security controls from businesses seeking cyber insurance as a way to mitigate loss ratios. However, the complexity and resources required to implement these security controls pose challenges for businesses, and brokers often struggle to guide their clients through the process.