1fort
Get everything you need to protect your growing business - in one refreshingly easy solution.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
| investor investor investor investor investor | €0.0 | round | |
* | $7.5m | Early VC | |
| Total Funding | 000k | ||
| USD | 2023 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| Profit | 0000 |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Dealroom estimates
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Founded in 2022 by Anthony Marshi and Toby Hung, 1Fort is a technology company that has developed an AI-powered platform for business insurance, with a specialization in cyber insurance. The company aims to address the inefficiencies within the trillion-dollar business insurance industry, where a significant portion of brokers' work is manual and repetitive.
The founders, Anthony Marshi (CEO) and Toby Hung (COO), have backgrounds that position them to tackle this challenge. Marshi previously worked at Boston Consulting Group (BCG), while Hung's expertise complements the team's vision. They identified that the traditional insurance procurement process is often bogged down by endless email threads and PDFs, leading to a frustrating experience for both brokers and their clients.
1Fort's platform serves as a solution to this problem by automating much of the work required to obtain and maintain cyber insurance. It assists businesses in meeting the stringent security requirements set by insurers, such as implementing multi-factor authentication (MFA) and endpoint detection and response (EDR). The platform can pre-fill application forms, identify security gaps, and streamline the overall procurement process. This not only saves time for brokers but also helps businesses secure coverage more easily and potentially at a lower premium by improving their risk profile.
The company operates as a technology partner to insurance brokers and carriers, rather than being an insurance carrier itself. Its business model is based on providing its AI-powered software-as-a-service (SaaS) solution to these partners. By doing so, 1Fort helps brokers become more efficient, allowing them to better serve their clients and grow their business.
Since its inception, 1Fort has attracted significant investment, securing millions in funding to accelerate the development of its AI roadmap and expand its partnerships with brokers and carriers. The company's focus on leveraging technology to modernize the business insurance landscape has been a key driver of its growth and success.
Keywords: cyber insurance, risk management, insurtech, AI platform, business insurance, automation, insurance brokers, security compliance, SaaS, data protection