Resilience
Cyber insurance MGA pairing risk-quantification software with underwriting capacity.
On the record
Checkpoint: Renewal and adoption results from the Arc portfolio-risk platform launch
The call
Resilience holds a real licensed slot in cyber insurance but sits behind Coalition while traditional carriers like Travelers build comparable tools in house.
Resilience sells cyber insurance through a regulated middleman business that uses software to assess risk and learns from past claims. Every cyber insurer has these same tools, so Resilience's advantages are not unique. Coalition, its main competitor, is larger and gaining ground, while old-guard insurers like Travelers bought their way in through the Corvus acquisition in 2023. Meanwhile, artificial intelligence is starting to automate the scanning, underwriting, and paperwork that Resilience relies on. The real threat to the company is that it depends on other insurers (like Intact and HDI) to actually cover the policies it sells, and claims are getting more expensive as ransomware attacks worsen. With no new funding round in three years and an unverified one-billion-dollar valuation in a toughening market, Resilience will need to either show faster growth than Coalition, keep its insurance partners loyal, or raise more money soon to stay relevant.
Why
01
AI pressure: Coalition's AI-driven scanning and underwriting tools, plus generic LLM report-writing. AI automates the scanning, triage, and report-writing layers of cyber risk work, squeezing the value Resilience adds outside its licensed underwriting core. Could AI do the core job? Unlikely.
02
Bigger players: Travelers (via its 2023 Corvus acquisition), with Chubb, AIG, and Beazley as plausible followers. Travelers already bought its way into cyber risk scanning and underwriting through Corvus, showing traditional carriers can build this in house. Could a giant copy it? Yes, easily.
03
What protects it. Its licensed MGA status, capacity ties to Intact and Lloyd's, and accumulated claims data give it underwriting standing AI alone cannot replicate.
What would change this call
Resilience announces a Series E round or confirms none within the next year. Shows whether investors still value it near $1B despite no raise since 2023.
A top-5 carrier (Chubb, AIG, Beazley) acquires At-Bay or Cowbell Cyber. Would show incumbents consolidating the insurtech MGA space around Resilience.
Public written-premium or growth figures comparing Resilience to Coalition. Would clarify if Resilience is closing the gap or falling further behind the segment leader.
A top-5 carrier (Chubb, AIG, Beazley) acquires At-Bay or Cowbell Cyber. Would show incumbents consolidating the insurtech MGA space around Resilience.
Public written-premium or growth figures comparing Resilience to Coalition. Would clarify if Resilience is closing the gap or falling further behind the segment leader.
Key numbers
- $100M Series D at roughly $1B valuation
- Ransomware costs rose 17% per its own 2025 report
- Tech E&O now covers firms with $25M+ revenue
Named risks
- No new funding round since Series D in August 2023, leaving ~$1B valuation unverified for nearly 3 years.
- Rising ransomware and loss severity, up 17% in 2025, could pressure capacity-partner pricing terms.
- Larger insurtech rival Coalition and carrier entrants like Travelers-Corvus squeeze market share.
- Relies on capacity partners Intact and Lloyd's rather than its own balance sheet, exposing it to reinsurance repricing.
- MGA and CRQ model is structurally replicable by any licensed carrier, not exclusive to Resilience.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Coalition | losing to | Positioned as leading insurtech MGA by written premium versus Resilience, 2026 |
| Travelers via Corvus | contesting | Traditional carrier acquired insurtech Corvus in 2023, directly entering Resilience's model |
| Chubb, AIG, Beazley, AXA XL | contesting | Named as plausible future entrants copying the MGA plus CRQ model, per 2026 analysis |
| At-Bay, Cowbell Cyber | contesting | Cited as peer insurtechs in same mid-market cyber insurance segment, 2026 |
Questions people ask
- Is Resilience profitable in 2026?
- Resilience has not disclosed profitability or audited revenue. Its last confirmed capital raise was a $100M Series D in August 2023, bringing total funding to $225M. No Series E or IPO has followed as of July 2026, leaving financial health unverified beyond self-reported growth claims.
- Who is Resilience's biggest competitor?
- Coalition is Resilience's largest insurtech rival, positioned as the leading cyber MGA by written premium. Traditional carrier Travelers also entered the space directly via its 2023 acquisition of Corvus Insurance, proving legacy insurers can replicate the model without needing Resilience.
- Could AI replace Resilience's business?
- No. Resilience's licensed MGA status and capacity partnerships with Intact Insurance and Lloyd's coverholders require regulatory approval AI cannot obtain. AI can automate risk-scanning, underwriting triage, and report writing, but the liability-bearing insurance core and claims-data moat remain human-and-license-dependent as of 2026.
- Is Resilience a safe company to join in 2026?
- Mixed signal. Resilience has not raised new equity since its $100M Series D in August 2023, and its ~$1B valuation from that round is unverified by any primary source. It continues hiring (CRO Matthew Polly, October 2024) and expanding into Europe as of late 2025.
- Who owns Resilience?
- Resilience is privately held and VC-backed, with investors including General Catalyst, Lightspeed Venture Partners, Founders Fund, CRV, Intact Ventures, Shield Capital, and Rapid7 CEO Corey Thomas as an angel investor, per its November 2021 Series C announcement.
- Has Resilience raised a Series E?
- No. As of July 2026, Resilience's most recent funding round remains its $100M Series D closed in August 2023, roughly three years prior. No Series E, acquisition, or IPO has been publicly announced since that round.
Timeline
- 2026-06-10Claimed Edge clients avoided over $1B in extreme cyber loss exposure since 2023
- 2026-06-04Launched Private Equity Cyber Risk Program, Powered by Arc
- 2026-05-14Launched Resilience Arc, portfolio-level cyber risk platform
- 2025-12-05Announced UK launch and Germany, Austria, France, Benelux expansion
- 2025-10-17Expanded Tech E&O coverage to firms with revenue as low as $25M
- 2025-09-09Published 2025 Cyber Risk Report citing 17% rise in ransomware costs
- 2024-10-16Hired ex-CrowdStrike exec Matthew Polly as Chief Revenue Officer
- 2023-08Closed $100M Series D, total funding reached $225M
- 2021-11-22Closed $80M Series C at roughly $650M valuation
Revision history
21 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- Resilience Closes $80 Million Series C Funding Round (2021-11-22)
- Cyber Risk Startup Resilience Raises $100M
- Valuation, Funding Rounds & Stock Price (2025-07-14)
- Management and Employees List
- Resilience
- Resilience Edge Clients Reduced Extreme Cyber Loss Exposure by More Than $1 Billion (2026-06-10)
- Ransomware Costs Jump 17% in 2025 Despite Fewer Cyberinsurance Claims (2025-09-09)
- Resilience Expands Coverage for Technology E&O Insurance (2025-10-17)
- Resilience Names Matthew Polly as Chief Revenue Officer (2024-10-16)
- New Platform From Resilience Brings Portfolio-Level Cyber Risk Visibility (2026-05-14)
- Resilience 2026 Company Profile