Upfort raises $8 million
Upfort, a provider of cyber security and insurance, has raised $8 million in a Series A funding round led by SYN Ventures, with participation from Eniac Ventures, Fika Ventures, Altai Ventures, Chaos Ventures, Aquila Capital Partners, Gaingels and Cyber Mentor Fund.
Founded in 2017, the San Francisco-based startup offers cyber security protection to SMEs which includes cyber risk mitigation and insurance. Upfort’s insurance agency is licensed to sell insurance in 50 states and DC.
“Upfort was founded as a comprehensive cyber platform to safeguard businesses against evolving threats and new risks. The new investment will enable us to build on these efforts as we continue our mission of accelerating the world’s journey toward cyber resilience. We are grateful for the ongoing support of all of our investors, including SYN Ventures, as we fundamentally transform the economics of cyber risk. Today’s announcement is a testament to their trust and support of our work to bolster cyber resilience for companies worldwide.” – Xing Xin, Upfort CEO and co-founder.
“At SYN Ventures, we wholeheartedly believe in the Upfort team’s vision–and ability–to transform the way businesses approach cyber security protection and resilience overall. In an age of rising cybercrime, Upfort equips organizations with the tools they need to protect themselves against the threat of cyberattacks, prevent losses, and analyze risk more intelligently. We are excited to spearhead the Series A funding round for Upfort – can’t wait to see all it does next.” – Ryan Permeh, operating partner at SYN Ventures.