Baobab provides cyber insurance for small and medium-sized enterprises, integrating automated attack surface scanning and security measures to identify and mitigate cyber risks. The platform offers 24/7 crisis management support and coverage for income loss due to ransomware and social engineering fraud, ensuring businesses are protected against the financial impacts of cyber threats.
Funding
$7.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
IBFounders
Product
Problem
Small and medium-sized enterprises (SMEs) are increasingly vulnerable to cyber attacks, which can lead to significant financial losses due to income disruption, data breaches, and recovery costs. Many SMEs lack the resources and expertise to adequately assess and mitigate their cyber risks, leaving them exposed to ransomware, phishing, and other cyber threats. Traditional cybersecurity solutions can be complex and costly to implement, making them inaccessible for many SMEs.
Solution
Baobab provides cyber insurance combined with integrated security measures, offering SMEs comprehensive protection against cyber risks. The platform includes an automated attack surface scan that identifies vulnerabilities and provides concrete, actionable security patches to close security gaps. Baobab's cyber insurance policy covers first-party and third-party damages, as well as 24/7 crisis management support to help businesses recover from cyber incidents. By combining proactive risk scanning with financial protection, Baobab enables SMEs to strengthen their cyber resilience and minimize the financial impact of cyber attacks.
Target Audience
Baobab's primary customers are small and medium-sized enterprises (SMEs) across various industries that rely on technology and are therefore susceptible to cyber threats. The company also serves insurance brokers looking to offer comprehensive cyber protection to their SME clients.
Features
- Automated attack surface scanning to identify and visualize cyber risks
- Weekly security analysis with concrete, implementable security patches
- Cyber insurance policy covering first-party and third-party damages
- 24/7 crisis management and claim assistance
- Phishing simulation training for employees
- User-friendly customer portal for managing security measures
- Broker portal with risk reports and digital business process