Security News > 2021 > March > Trava raises $3.5M to invest in data science and ML expertise to develop its insurance analytics platform

"There's a data gap in the cyber insurance industry. Specifically, there's a lack of objective cyber risk analysis, which makes it nearly impossible for insurers to accurately predict loss, set premiums, and protect insureds," said Goldman.

"Trava exists to bridge that gap. Thanks to our partners at TDF Ventures, High Alpha Capital, and M25, we can accelerate the creation of an integrated cyber insurance company-one that collects, analyzes, and incorporates cyber risk data to provide better coverage for small and medium-sized businesses."

With data-driven security assessments, professional services from a virtual Chief Information Security Officer, and a built-in cyber insurance platform, Trava provides an integrated and dynamic cyber risk management system its customers can trust.

"In only a few months since launch, Trava has demonstrated that they can provide a holistic cyber risk solution unlike any others I've seen in the market," said Matt Bressler, Principal at TDF Ventures.

Alongside a growing network of IT MSP, MSSP, and insurance channel partners, Trava works with customers to assess existing vulnerabilities and cyber maturity, then helps them develop and implement robust cyber risk management and transfer programs to meet vendor review requirements.

Trava plans to use the new funding to invest in data science and machine learning expertise to fuel development of its insurance analytics platform.

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