Founded by Jules Veyrat, Alexandre Andreini, Nicolas Sayer and Philippe Mangematin, Stoïk is positioned as a wholesale broker. Specifically, the company provides its partner brokers with a digital space designed to facilitate the sale of cyber insurance. Stoïk, which combines insurance and cybersecurity software in its offering, claims several hundred active brokers on its platform, notably from firms such as Verspieren, Ageo or CRF Assurances.
“We met many insurance companies in Europe. For us, Stoik is becoming the most promising insurtech in the sector thanks to its unique positioning in the European market”, explains Seema Amble, partner at a16z. “We are happy to make Stoïk our second investment in France and bet on this exceptional team so that all startups, VSEs and SMEs can be protected from cyber risk. »
Faced with the growing threat of cyber attacks in France and Europe, start-ups are entering the cyber security insurance market, particularly to insure small and medium-sized businesses, which are often powerless in the face of cyber attacks.
“The market is huge”explains Jules Veyrat, co-founder and CEO of Stoïk. “There are around 140,000 SMEs in France and only less than 3% have cyber insurance. There is a real need and that is what attracts investors. »
Launched in early 2021, Stoïk raised 11 million euros in October 2022 from the Californian fund Andreessen Horowitz and its historical investors Alven and Anthemis Groupa as well as business angels such as Henri De Castries (former CEO of AXA) and Julian Teicke (CEO of WeFox). This operation follows a first funding round of 3.8 million euros completed last January.
Find the full interview with Jules Veyrat, co-founder and CEO of Stoïk:
Listen to “Do you know the startup Stoïk that wants to protect and secure companies from cyber attacks? on Speaker.