At-Bay raises $185 million

According to Calcalist, Mountain View-based cyber insurance startup At-Bay announced it has raised $185 million in a Series D funding round, reaching a valuation of $1.35 billion. The round was co-led by Icon Ventures and Lightspeed Venture Partners, with participation from existing investors including Khosla Ventures, M12, Acrew Capital, Qumra Capital, the HSB fund of Munich Re Ventures , and entrepreneur Shlomo Kramer.

Established in 2016, At-Bay – currently a team of 119 – offers cyber insurance coverage to businesses and – as part of the insurance policy – its security team “monitors the perimeter of each portfolio company, actively alerting them of new vulnerabilities.” The company said it recently surpassed $160 million in annual recurring revenue on 800% year-over-year premium growth. To date, the company has raised $276 million.

The company operates in the space of Coalition , Cowbell and Corvus Insurance ; to name a few.