European cyber insurance startup Stoák raises $27 million

For this reason, Stoák is stepping in and offering cybersecurity insurance that is tailored to small and medium-sized enterprises. A Series B round of €25 million, or around $27 million at current currency rates, was recently raised by the French startup. 

Stoïk is similar to companies such as Coalition and At-Bay in many aspects. Nevertheless, Stoák only markets its insurance products to businesses in Europe, not to American corporations. 

Businesses are protected against cybersecurity-related claims after they have been insured by Stoïk. For example, Stoák can make up for revenue loss (gross operating margin) if a cyber incident forces a company to temporarily cease or halt production.