Stoïk secures a financing round led by Alven, Anthemis Group, and Kima Ventures to enhance its cyber insurance offerings, aiming to become a leading player in the European market.

Information on the Target

Stoïk, founded in 2020 by Jules Veyrat, Alexandre Andreini, Nicolas Sayer, and Philippe Mangematin, provides a comprehensive cyber insurance solution designed to alleviate the vulnerability that business leaders face regarding cyber risks. With the alarming increase of cyber attacks, which have surged by 255% according to the French National Cybersecurity Agency (ANSSI), companies are increasingly concerned about potential damages to their reputation and operations. Stoïk aims to empower small and medium-sized enterprises (SMEs) by offering an accessible solution tailored to their unique challenges.

Currently, only 5% of companies in Europe have insurance coverage against cyber risks. Traditional security measures can be prohibitively expensive and complicated, while available insurance products are often restrictive and challenging to acquire. Stoïk differentiates itself in the market by providing a combined offering of insurance and security software, ensuring real-time monitoring of companies’ infrastructure and enhancing their protection against cyber threats.

Industry Overview in France

The cyber insurance industry in France is emerging as a crucial segment within the broader insurance market, particularly as digital transformation accelerates across various sectors. With the increasing reliance on digital technologies, businesses a