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Cowbell Secures $60 million Series C Funding from Zurich Insurance Group to Scale Up Operations and Advance Global SME Cyber Adoption

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2 months ago

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Company continues its mission to near-term operating profitability; New capital to fuel growth with new products, new geographies, and resilience services

PLEASANTON, Calif., and ZURICH, July 26, 2024 /PRNewswire/ — Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs), announced today that it has closed a $60 million Series C equity investment from Zurich Insurance Group (Zurich), a leading global multi-line insurer.

With the $60 million investment, Cowbell plans to scale operations to meet growing demand, extend its presence in key international markets, bolster cyber resilience services, introduce new cutting-edge products to the market, and further strengthen strategic partnerships. Leveraging existing advances in AI and GenerativeAI (GenAI), the company aims to expand its technological infrastructure to drive further efficiencies and support expedited policyholder and broker decision-making across traditional, digital and API-driven channels.

Zurich‘s investment in Cowbell underscores its commitment to supporting businesses with state-of-the-art cyber protection and resilience solutions, particularly within the SME and middle market segments, where companies are exposed to cyber risk more than ever. It also aligns with Zurich‘s ambition to leverage best-in-class technology and expertise to address the evolving complexities of cyber risk management.

The global cost of cybercrime is estimated to reach $24 trillion by 2027, and ransomware attacks alone cost small businesses $1.7 million per incident on average.

Sierra Signorelli, CEO Commercial Insurance at Zurich said: “Cyber threats remain a major concern for business leaders due to their constantly evolving nature. To address this, we continue to invest in enhancing our cyber capabilities and building a strong support system for our customers. Cowbell is an excellent partner for managing cyber risks. They use a data-centric approach to risk management, provide continuous risk assessments, actively monitor threats, and have strong underwriting expertise. And all of this is centered around a highly advanced digital platform designed to boost cyber resilience for their customers.”

Jack Kudale, founder and CEO, Cowbell said, “This investment from Zurich is the strongest endorsement of Cowbell‘s vision and capabilities yet and deepens our footprint in the global cyber insurance market. With a refined focus on product expansion, we will accelerate our efforts to deliver advanced and efficient cyber insurance solutions to SMEs and mid-market businesses globally, ensuring they have the protection and tools they need to navigate the rising threats in the evolving cyber landscape.”

Cowbell‘s broker-first approach and reputation for its easy-to-use platform and effective education experience for the broker community are gaining worldwide traction and trust, with licensed producer growth of nearly 3x over the last two years. With better outcomes for customers at its core, reinvestment back into the business will see Cowbell double down on advancements in AI and GenAI to bring greater transparency to cyber risk. In doing so, Cowbell will facilitate smarter decision-making and raise cyber resiliency standards for brokers and businesses worldwide.

This latest investment marks a major milestone in Cowbell‘s fast-scaling journey, following a year of rapid geographic and product expansion, technological growth, and the onboarding of industry-heavyweight experts, further solidifying its position in the global cyber insurance market.

With $202 million raised to-date, Cowbell has remained capital-efficient throughout its journey. Cowbell has remained steadfast in its clear vision to protect, educate and empower SMEs and mid-market businesses, and the broker community serving them – from today‘s and tomorrow‘s threats.

J.P. Morgan Securities LLC acted as financial advisor and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP provided legal counsel to Cowbell in this transaction.

About Cowbell
Cowbell is a pioneer of Adaptive Cyber Insurance, leading the way in providing small and medium-sized enterprises (SMEs) with coverage adaptable to today’s and tomorrow’s threats and the advanced warning of cyber risk exposures. With its unique AI-based approach in risk selection and pricing, Cowbell’s continuous underwriting platform, powered by Cowbell Factors, compresses the insurance process from submission to issue in less than 5 minutes. Backed by 25 prominent global (re)insurance partners, Cowbell serves SMEs across 50 U.S. states, the District of Columbia, and the United Kingdom, assessing businesses with revenues up to $1B globally. Founded in 2019, Cowbell is based in the San Francisco Bay Area and has employees across the U.S., Canada, India, and the U.K.

For more information, please visit https://cowbell.insure/.    

About Zurich Insurance Group
Zurich Insurance Group (Zurich) is a leading multi-line insurer serving people and businesses in more than 200 countries and territories. Founded 150 years ago, Zurich is transforming insurance. In addition to providing insurance protection, Zurich is increasingly offering prevention services such as those that promote wellbeing and enhance climate resilience. Reflecting its purpose to ‘create a brighter future together,‘ Zurich aspires to be one of the most responsible and impactful businesses in the world. It is targeting net-zero emissions by 2050 and has the highest-possible ESG rating from MSCI. In 2020, Zurich launched the Zurich Forest project to support reforestation and biodiversity restoration in Brazil. The Group has about 60,000 employees and is headquartered in Zurich, Switzerland. Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information is available at www.zurich.com. 

Cowbell US Media Contact
John Kreuzer
Lumina Communications for Cowbell
Cowbell@LuminaPR.com
+1.408.963.6418

Cowbell UK Media Contact:
Kirsty Jarvis
Luminous PR for Cowbell
+44 (0) 7966 291216
kirsty@luminouspr.com 

 

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SOURCE Cowbell

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Huawei Peer-Recognized as a 2024 Gartner® Peer Insights™ Customers’ Choice for Enterprise Wired and Wireless LAN Infrastructure

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3 hours ago

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September 29, 2024

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SHENZHEN, China, Sept. 29, 2024 /PRNewswire/ — On September 24, 2024, Huawei announced that it has been peer-recognized a 2024 Gartner® Peer Insights™ Customers’ Choice in the Voice of the Customer for Enterprise Wired and Wireless LAN Infrastructure thanks to its Xinghe Intelligent Campus offerings. This marks the fifth year in a row that Huawei has received this distinction. Notably, Huawei receives Customers’ Choice distinctions in four of the six customer segments: Midsize Enterprise (50M – 1B USD); Public Sector, Government and Education; Asia/Pacific; and Europe, the Middle East and Africa.

As of June 30, 2024, customers across diverse sectors — including manufacturing, IT services, education, and telecommunication — have reviewed Huawei’s complete Xinghe Intelligent Campus offerings on the Gartner Peer Insights platform. We believe their impressive feedback showed global recognition of Huawei from the industry influence, deployment scales, and mature commercial use perspectives.

“We’re thrilled to be named a Gartner® Peer Insights™ Customers’ Choice for Enterprise Wired and Wireless LAN Infrastructure again,” said Shawn Zhao, President of Huawei’s Campus Network Domain. “Recently, Huawei launched the newly upgraded Xinghe Intelligent Campus that takes wireless, application, and O&M experience to new levels with AI technologies, ultimately accelerating the digital transformation of enterprises.”

Looking ahead, Huawei will further innovate Xinghe Intelligent Campus offerings from wireless, application, and O&M experience upgrade perspectives, helping all industries stride to the future of experience-centric intelligent campus networks.

For more about Gartner® Peer Insights™ Customers’ Choice, visit: https://www.gartner.com/reviews/market/enterprise-wired-wireless-lan-access-infrastructure 

Disclaimer:

Gartner, Voice of the Customer for Enterprise Wired and Wireless LAN Infrastructure, Peer Contributors, 12 September 2024

Gartner, Peer Insights, Magic Quadrant and Customers’ Choice badge are trademarks of Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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SOURCE Huawei

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“MLOVE” Rangers Speakers to be unveiled at Global Sources Consumer Electronics Show 2024.10

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4 hours ago

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September 29, 2024

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SHENZHEN, China, Sept. 29, 2024 /PRNewswire/ — MLOVE, announces its participation in the Global Sources Consumer Electronics Show during October 11 to 14, 2024 in Hong Kong. We look very much forward to offering 7 original and pioneering Busking Speakers from MLOVE Rangers Series.

To further expand MLOVE on the global market and have more face-to-face communications with our customers and agents, we are scheduled to attend the Global Sources Consumer Electronics Show.

Come and Join Us at:
Booth No.: Hall1, 1D26
Time: October 11 – 14, 2024
Address: AsiaWorld-Expo • Hong Kong

About Global Sources Consumer Electronics Show

Global Sources Consumer Electronics show, the world’s largest export-centered electronics sourcing trade show, features over 3,100 booths offering a whole host of industry innovations, which cover 9 major product categories including smart wearables, TWS, AR/VR, energy storage, solar energy, and charging stations — all in high demand for the world’s buyers. Aside from their diversity, what these products share in common are strong branding, intelligence, and innovative design.

Introducing 7 New Masterpieces: Rangers Busking Speakers

MLOVE S3 Pro, S1, S5 ,D5, D4, D6, D8 Pro

Three Main Functions In One Speaker  

Playing Music Speaker
Sound is the soul of the speaker. We are committed to shaping the sound characteristics of our own style with deep and dynamic bass, clean and clear vocal, stable treble, bass, vocal, and treble balance so that every note is full of our persistence and passion, bringing users an unprecedented auditory feast.

Karaoke Speaker
Support 2 wireless UHF microphones,
high quality metal housing and cardioid voice collection Microphone
Multi channels timbre adjustment independently, customized your tone

Musical Instrument Amplifier
This function specially developed for musical instrument lovers
Portable size, you can make a street busk with your friends easily
Different musical instruments assigns independent impedance matching tap
Maximizes the musical instrument’s sound

Other Special Features:
100+ Connections Together
Reverse Charging other devices
Wireless/Wired Recording
OTG playing and charging
Wireless/Wired Live Streaming

About MLOVE

Established in 2008, the MLOVE factory is a national high-tech enterprise that integrates ID design, research and development, production, and sales and after-sales service. It is also a specialized and innovative enterprise in the Guangdong Province. MLOVE factory has a modern independent industrial park of 30,000 square meters, strategically cooperated with SMT and injection molding suppliers.

Currently, MLOVE product line includes Rangers Karaoke and musical instrument speaker series, retro home speaker series, and portable outdoor speaker series.

We will continue to pursue excellence and provide customers with higher quality products and services.

Thank you for your attention. We look forward to establishing a long-term and stable cooperative partnership with customers all over the world.

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SOURCE MLOVE

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Good Media: Two Guinness World Records Set! Shenzhen’s stunning drone show kicks off National Day celebrations

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4 hours ago

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September 29, 2024

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SHENZHEN, China, Sept. 29, 2024 /PRNewswire/ — On the evening of September 26, Shenzhen hosted a spectacular drone show themed “City of Sky, Maybe Shenzhen” above Shenzhen Bay Park. A total of 10,197 drones took to the sky simultaneously, setting two Guinness World Records: “The most multirotor/drones airborne simultaneously from a single computer (outdoors)” and “The largest aerial image formed by multirotors/drones”.

The drone light show was a breathtaking spectacle. A vast array of drones came together to form a stunning starry sky, making the audience feel as though they were floating in an endless universe. What truly amazed the crowd was the sight of a floating “Sky City” materializing in midair, intertwined with iconic Shenzhen elements like the city’s landmarks, light shows, and scenes of Wing Chun, all symbolizing the limitless future of Shenzhen. Following this, dazzling “cyber fireworks” lit up the night, painting a vibrant picture of Shenzhen as a “City of Miracles, City of Innovation, City of Future”. 

The drones’ kaleidoscopic display in the night sky was not just a technological and visual feast but also a vivid demonstration of Shenzhen’s limitless potential as a “Sky City” for global visitors. 

It is worth noting that this drone show was just the beginning. During the National Day Holiday, Shenzhen will continue the drone performances for seven consecutive days. Daily shows will feature 10,000 drones across five districts in a relay format. 

To welcome global tourists to experience low-altitude tourism, starting from September 23, Shenzhen has been offering special holiday packages for seven consecutive days. This includes 10,000 low-altitude flight experience vouchers, allowing visitors to enjoy helicopter rides and take in the stunning urban landscapes, mountains, and coastal vistas of Shenzhen from above. 

In addition, Shenzhen will host over 300 highlight cultural and tourism activities. It will also offer more than 40,000 discounted attraction tickets, 2,000 free admission tickets, and 1,000 Shenzhen Airlines upgrade vouchers, inviting tourists from around the world to join in this grand autumn tourism celebration.

 

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SOURCE Good Media

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