Parametrix raises $27 million in Series B funding

Parametrix raised $27 million in Series B funding. Mundi Ventures, FirstMark Capital, and Hannover Digital led. Total funding now stands at $45 million.

Funding details: $27 million (Series B)

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Parametrix raised $27 million in Series B funding. Mundi Ventures, FirstMark Capital, and Hannover Digital Investments led the round. Hannover Digital is the venture arm of HDI Group. F2 Venture Capital and some strategic investors also joined. This brings total funding to $45 million.
The investors back Parametrix for its insurance on digital disruptions. The company covers losses from SaaS outages, SLA breaches, and cloud issues. Luis Viñas from Mundi Ventures said it redefines insurance for digital times. Amish Jani from FirstMark Capital said it fits with AI changes in digital setups.

Part of the news includes a new product. It’s called CyberPMX. This adds parametric protection to standard cyber policies. It helps businesses handle downtime financially.
Jonathan Hatzor, CEO of Parametrix, said they insure the digital backbone for AI. Their solutions grow fast as data centers and companies need uptime protection. The funding lets them speed up and work more with big operators.

Parametrix offers parametric insurance for digital business interruption. It works for companies hit by tech downtime from over 7,000 cloud providers. Payments trigger automatically on verified events. The firm started in 2018 and is a Lloyd’s Coverholder. It operates globally.

The story comes from a Fintech Global article.