With additional participation from Andreessen Horowitz, Munich Re Ventures, Tokio Marine, CYBICA, Opera Tech Ventures, and Anthemis. The funding comes just over a year after the startup secured $10.7 million in its previous round.

Founded in 2021, Stoïk operates as a managing general agent (MGA) and provides cyber insurance coverage to companies with up to €750 million in annual revenue. The company distributes its products through independent brokers, backed by a range of insurers and reinsurers, including Acheel, Axeria, Swiss Re, and Tokio Marine HCC.

The latest funding will help Stoïk accelerate its growth and expand its reach across Europe. The company aims to reach 5,000 policyholders and €25 million in premiums by the end of the year.

“This investment highlights the trust our partners and investors have in Stoïk’s future,” said Jules Veyrat, CEO and Co-founder of Stoïk. “With this €25 million Series B, we will enhance our product offerings and continue our expansion across France, Germany, and other European markets.”

Investors expressed strong support for Stoïk’s innovative approach to cyber insurance. “Stoïk has gained remarkable traction with brokers and distributors, thanks to its leaders’ visionary approach and exceptional execution,” said Seema Amble, Partner at Andreessen Horowitz. “We are thrilled to continue supporting their journey.”

Thomas Cuvelier, Partner at Alven, noted Stoïk’s impressive growth and talent acquisition since their first investment, adding, “This new funding will solidify their position in the market.”

With this new round of funding, Stoïk is set to expand its offerings and strengthen its presence across the European cyber insurance landscape.

Ben Bergsma, Principal at Munich Re Ventures, also emphasised the importance of Stoïk’s proactive approach to managing cyber risks for European SMEs, saying, “We believe Stoïk is poised to become a leading player in Europe’s cyber insurance market.”