Paris-based cyber insurtech Stoïk has successfully closed a $23 million Series C funding round, reinforcing its position in the European market. The round was co-led by new investor Impala and existing backer Opera Tech Ventures, signaling strong confidence in the company's integrated approach. Stoïk combines comprehensive cyber insurance with proactive cybersecurity measures to protect businesses across the continent from evolving digital threats.
Strategic Capital for Disciplined Growth
The funding round saw participation from all current investors, including Alven and Andreessen Horowitz, alongside the new co-leads. This $23 million investment highlights investor belief in Stoïk's sustainable business model and prudent financial management. The capital is strategically sized to propel the company into its next growth phase without overextending its operational capacity.
An Integrated Approach to Cyber Resilience
Stoïk differentiates itself with a 360-degree model that addresses cyber risk for companies with revenues up to €1 billion. This holistic strategy integrates robust insurance coverage with advanced, proactive risk prevention and detection services. The platform is designed to support businesses before, during, and after an incident, ensuring operational continuity and effective recovery.
A core component of this model is the deployment of in-house incident response teams, which are increasingly augmented by proprietary AI agents. This technological focus allows Stoïk to deliver rapid and effective support, helping clients mitigate financial losses. By combining human expertise with artificial intelligence, the company provides a dynamic defense against sophisticated cyber threats.
Solidifying a Pan-European Presence
Since its 2021 launch, Stoïk has achieved remarkable traction, now operating in France, Germany, Spain, Belgium, Austria, and Luxembourg. The company has built a powerful distribution network, collaborating with over 2,000 broker partners to deliver its solutions. This expansive network has enabled Stoïk to protect a growing portfolio of more than 10,000 businesses.
The company's rapid expansion is also reflected in its team, which now comprises over 130 specialists across its six European markets. This distributed expertise allows Stoïk to provide localized support and tailor its offerings to regional needs. This strong operational footprint positions the company as a leading force in the European cyber risk management landscape.
Future Trajectory: AI and Market Expansion
According to CEO and co-founder Jules Veyrat, the new funding will be instrumental in scaling the company's proven model. A significant portion of the capital is earmarked for enhancing the proprietary AI agents that power its prevention and response capabilities. This investment aims to further automate and refine the company's cybersecurity services for its diverse client base.
Beyond technological development, the funds will fuel Stoïk's continued international expansion, with a strategic focus on Central and Southern Europe. This geographic growth will be coupled with the ongoing development of its integrated cybersecurity and insurance offerings. The company is poised to strengthen its market leadership by bringing its innovative solutions to more businesses across Europe.
This $23 million funding round marks a significant milestone for Stoïk, validating its unique, tech-driven approach to cyber risk management. With fresh capital and strong investor backing, the company is well-equipped to accelerate its growth and enhance its AI capabilities. Stoïk's trajectory reinforces its position as a pivotal player in making comprehensive cyber protection accessible to European businesses.