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SINGAPORE INSURTECH PROVIDER CYBER SIERRA RAISES $4.3M SEED FUND LED BY LEO
CAPITAL


February 15, 2022• Cybersecurity, Investments, News, Singapore•By TechNode
Global Staff



Cyber Sierra, a Singapore-based technology-enabled cyber insurtech provide,
announced Tuesday the completion of a $4.3 million seed round of financing led
by Leo Capital, with participation from AppWorks, Credit Saison, as well as
angel investors including prominent founders and leaders in the cloud and
insurance sectors.

With this round of financing, Cyber Sierra said in a statement that it plans to
launch and grow its business offerings to include more products to serve risk
and compliance needs of businesses in line with apt regulatory frameworks.

It will also bring on new hires across all functions, expand its network of
startups, small and medium size enterprises (SME) customers across Southeast
Asia, India, and other markets.

“Our goal is to serve every online business. In current times, cloud native
companies have inevitably either already experienced data and security
incidents, or will soon. Cyber Sierra aspires to build the best cyber experience
for SMEs, offering a full suite of technology, insurance products and solutions
to help companies compliantly strengthen their security posture as well as gain
access to expert response and comprehensive insurance coverage when needed.”
said Pramodh Rai, Co-founder of Cyber Sierra.

Meanwhile, Cyber Sierra Co-Founder Subhajit Mandal said that for a young, fast
growing, global and digital commercial risk such as cyber, the next couple of
years present a unique opportunity to create the next generational way of
insuring businesses.

“Our platform is focused on helping customers grow their cyber security posture,
with embedded insurance offerings. This helps companies to adopt a more holistic
approach to managing cyber risk,” he said.

Founded in June 2021, Cyber Sierra is a technology company that offers cyber
risk, compliance and insurance products backed by leading global brokers and
insurers. The company delivers cybersecurity and technology insurance offerings
to SMEs with presence on the cloud. Cyber Sierra provides companies with up to
$5 million of cyber and technology insurance coverage. Starting in Singapore,
the company is currently expanding to India in addition to other countries in
the Southeast Asia region.

Cyber Sierra is led by a team of seasoned technology entrepreneurs, including
Pramodh Rai, who has led technical teams at Hmlet and Funding Societies; and
Subhajit Mandal, an experienced fintech and insurtech expert with stints at AXA
and MetLife. As a technically-driven company, Cyber Sierra is strongly focused
on creating targeted security features for its end users.

Through Cyber Sierra’s platform, businesses will be able to access a number of
cybersecurity tools including threat alerts, intelligence feeds, anti-phishing,
vulnerability scans and governance features with bundled insurance offerings.
Cyber Sierra’s customers include leading fintech companies, healthcare
providers, e-procurement as well as ed-tech and e-commerce technology firms.

Besides, Cyber Sierra’s team includes technology entrepreneurs and executives
who have built cybersecurity and insurtech solutions for banks, government
agencies, cloud providers and (re)insurers. Their combined expertise positions
Cyber Sierra to help businesses solve the cyber risk challenges.

“Covid accelerated the digitization of every business around the world. To meet
the needs of online businesses new and old alike, we are excited to back
Subhajit and Pramodh, supporting them in building solutions for the cyber
security and cyber insurance challenges of the digital economy,“ said Shwetank
Verma, Managing Partner of Leo Capital.

Leo capital is a Singapore based early stage venture fund, built by serial
entrepreneurs with global experience. It backs companies powering a
software-enabled world and supports their founders to build the iconic
companies.

> Singapore cybersecurity start-up CloudSEK raises $7M in Series A funding led
> by MassMutual Ventures to accelerate global expansion



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