# BOXX Insurance

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/boxx-insurance

- Industry: Financial Services
- Headquarters: Toronto, Canada
- Website: www.boxxinsurance.com
- Total disclosed funding: $10M
- Latest round: Series A (Sep 22, 2021)
- Investors on record: 3

## About

BOXX Insurance Inc. is a Canadian firm specializing in cyber insurance and comprehensive cybersecurity solutions, dedicated to enhancing digital resilience for individuals and businesses.Founded in 2018, BOXX Insurance Inc. operates out of Toronto, Canada, focusing on cyber insurance products. The company has executed 2 deals, with the latest being a Series B funding round in January 2023, securing USD 14.4 mn led by Zurich Insurance Group. Vishal Kundi serves as both the Founder and CEO, steering the company through its growth trajectory.BOXX Insurance specializes in cyber insurance and comprehensive cyber security solutions aimed at enhancing digital resilience for both businesses and individuals. The company’s core offerings include Cyberboxx® Business and Cyberboxx® Home, which provide all-in-one cyber insurance and protection services. These products include tools for predicting and preventing cyber threats, as well as extensive insurance coverage underwritten by Lloyd's, which includes incident response and recovery services through Hackbusters®. The services are particularly tailored for small businesses and households, ensuring they are equipped with managed firewalls, cyber monitoring, and regular training sessions. BOXX Insurance operates primarily in key international markets such as Canada, the United States, and select regions across Europe and Asia, serving a diverse client base that includes small businesses, corporate partners, and individual consumers seeking robust cyber protection.The revenue model of BOXX Insurance revolves around the provision of subscription-based services and direct-to-consumer sales, particularly through their flagship products Cyberboxx® Business and Cyberboxx® Home. Clients engage with the company by purchasing insurance policies and cyber security tools tailored to their specific needs, through a structured transaction process that allows clients to generate quotes and bind policies via the BOXX Broker Portal. This portal enables brokers to facilitate transactions efficiently, ensuring a seamless experience for end users. The company’s offerings are priced according to the level of coverage and services provided, with options for both individual consumers and businesses. Additionally, partnerships with corporate entities further enhance revenue streams, allowing for embedded insurance solutions that cater to diverse customer bases across various sectors.In January 2023, BOXX Insurance Inc. raised USD 14.4 mn in Series B funding, led by returning investor Zurich Insurance Group. This funding will support the launch of new products designed to further enhance their cyber insurance offerings. The company is also planning to expand into additional international markets, focusing on regions within Europe and Asia by the end of 2024. These strategic initiatives aim to solidify BOXX's position in the market and provide tailored solutions to an increasingly diverse clientele.

## Funding rounds

- Series A, Sep 22, 2021, $10M — Zurich Insurance Group, SixThirty, Cyber Mentor Fund

## Investors

- Zurich Insurance Group — Series A
- SixThirty (https://capitalatlas.ai/funds/sixthirty) — Series A
- Cyber Mentor Fund (https://capitalatlas.ai/funds/cyber-mentor-fund) — Series A