Cork is providing cyber warranties for MSPs that serve small businesses and the independent software vendor (ISV) solutions that they manage.
The company also has secured $6 million in a seed funding round led by DVx Ventures, with participation from Outsiders Fund and Vestigo Ventures, according to a prepared statement.
The company has deep channel roots from the outset. Datto founder and former CEO Austin McChord is a managing partner of Outsiders Fund and is on the board of directors at Cork. Former Datto business development executive Rob Rae, who is now at Pax8, is on Cork's advisory board. Datto's former CISO Ryan Weeks is also on Cork's advisory board. Kaseya acquired Datto in April 2022.
Commenting on Cork's launch and what it means for MSPs and their customers, Jon McNeill, Cork's founder, said:
"Through our inside-out monitoring, rapid underwriting and easy claims tracking, we put security control in the hands of MSPs to financially protect them and their clients. With a world-class team and investors in place, we’re ready to deliver on Cork's mission."
What Cork Offers MSPs and Their Customers
Cork's platform helps MSPs protect their customers against several types of cyberattacks, including:
- Business email compromise (BEC)
- Ransomware
- Spear phishing
The platform is designed to offer MSPs and their customers "peace of mind and reduce cyber risk with near-instant financial coverage and settlements in the aftermath of security incidents," Cork said. It also uses real-time data telemetry to underwrite the cyber risk of the protected environment. Cork noted that the platform offers a cyber warranty backed by an inside-out approach to active risk monitoring, detection and remediation.
Cork Partners with Barracuda Networks, River Run
Along with emerging from stealth, Cork's warranty is being bundled with new and existing renewals of the Barracuda Networks Managed XDR Solution.
In addition, MSP River Run will offer the Cork active monitoring platform and warranty to its clients.
Going forward, Cork will address the accelerating need for cyber financial protection that is causing cyber insurance premiums to increase and coverages to decline, CEO Carlson Choi stated. To do so, Cork will provide a data-driven warranty solution that gives MSPs and their customers "actionable insights, flexible premiums and simple claims management," Choi indicated.
