Company Overview
Snapshot
Founded in March 2017 by Saar Bar and Darren Gradus, Surance.io operates with 1–10 employees. The company has raised $4M across one funding round from Tech Mahindra and Plug and Play. In April 2022, Surance.io closed a $4M Series A funding round.
Business overview
Surance.io develops insurance products and services specifically for Internet of Things (IoT) assets, operating within the Cyber Security and Insurtech sectors. The company utilizes a risk-prediction model to enable insurers to implement digital sales processes, automated underwriting, and digital claims processing for cyber insurance covering IoT assets. Its core product, Home Safety Net, scans connected home devices, provides risk alerts, recommends threat avoidance strategies, and offers personalized cyber insurance for physical and media damages. Surance.io serves consumers and insurance companies, with a focus on residential sites and home IoT.
Strategic signal
In April 2022, Surance.io secured a $4M Series A funding round, with Tech Mahindra acquiring a 25% equity stake and an option for an additional 20%. This investment is critical for Surance.io's global expansion, signaling strong market validation for its preventive cyber-safety insurance policies and white-labeled full-stack solutions for partners. This strategic partnership with a major IT services and consulting company like Tech Mahindra indicates a significant growth trajectory and potential for broader adoption of Surance.io's cyber protection services within the insurance industry.
Log in to access full profile ›Company Intelligence Q&A
- What was Surance.io's most recent funding activity?
- In April 2022, Surance.io closed a $4M Series A funding round. Tech Mahindra participated in this round.
- What is Surance.io's primary product?
- Surance.io's primary product is Home Safety Net, which scans connected home devices, alerts users to risks, suggests threat avoidance methods, and provides personalized cyber insurance covering physical and media damages.
- When was Surance.io founded and by whom?
- Surance.io was founded in March 2017 by co-founders Saar Bar and Darren Gradus.
- What is Surance.io's business model?
- Surance.io operates on a B2B2C business model, providing its insurance products and services to insurers who then offer them to end-consumers.
- What is the strategic significance of Tech Mahindra's investment in Surance.io?
- In April 2022, Tech Mahindra acquired 25% equity in Surance.io with an option for an additional 20%. This investment is intended to support Surance.io's global expansion and validates its approach to cyber-safety insurance and white-labeled solutions for partners.