Parametrix, a company that provides insurance for digital infrastructure, has raised $27 million in its Series B funding round. The round was led by Mundi Ventures, FirstMark Capital, and HDI Group.
Existing investors like F2 Venture Capital and other strategic partners also took part in the round. With this new funding, Parametrix has now raised a total of $45 million since it was founded.
Parametrix has built a platform that can measure and insure digital downtime risks on a large scale. With cloud outages and data center failures happening more often worldwide, many companies are facing disruptions.
To address this, Parametrix offers insurance that covers both digital downtime and cyber risks for cloud-based and on-premises systems. Their solutions are designed for enterprises that need strong reliability and continuous performance.
The company’s technology keeps track of over 7,000 cloud-based tech providers and around 750 data centers worldwide, collecting more than one billion performance data points every month.
CEO Yonatan Hatzor said the company has intentionally kept its workforce steady at around 30 employees. “After the market crash in 2022, we chose not to hire aggressively and instead focused on preserving cash,” he said. “We developed a culture of growth without increasing headcount. In insurance, many companies hired rapidly and burned a lot of money. We didn’t make that mistake. If in the past we were 50% development and the rest sales, today the company is more commercial. We sell through insurance brokers rather than direct sales. We’ve grown threefold in each of the last few years.”
“Today, the company sells in the tens of millions of dollars, and we are one of the most efficient companies in the insurance sector,” Hatzor added. “We started with a cloud-based product and expanded our coverage to any failure in computer systems. We focus on corporations, not small businesses, and sell to Fortune 500 companies. We also operate in Israel, offering cyber insurance that is different from others because we pre-agree on compensation amounts without requiring a traditional claim. We provide a seamless path to reimbursement for outages and cyber incidents.”
Along with its new funding, Parametrix has introduced a cyber insurance product that includes digital business-interruption coverage directly within a typical cyber policy.
This product provides quick, pre-agreed payouts when specific disruptions happen in a company’s digital supply chain, helping businesses recover faster and with more certainty.
Parametrix was founded in early 2020 by CEO Yonatan Hatzor, along with Neta Rozy, Ori Cohen, and Tamir Carmel, the former founder of 10bis. The company now has a team of 30 employees based across Israel and the United States.
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