In just three years, Stoïk has established itself as a key player in cyber insurance across Europe, focusing specifically on small and medium-sized enterprises (SMEs) and mid-sized companies. As cyberattacks become increasingly frequent, Stoïk has developed an innovative and proactive approach to protecting these businesses. Its model goes beyond compensating cyberattack victims, integrating prevention and incident management solutions.
A prevention-focused insurance model
Stoïk offers cyber coverage tailored to the risk profiles of SMEs, combined with an advanced technology platform, Stoïk Protect, which helps companies reduce their exposure to cyber threats. This model is based on active risk management, providing protection and detection tools from the start of the contract. What sets Stoïk apart is its proactive approach: instead of waiting for an incident to occur, the company helps its clients avoid attacks before they happen.
Integrating managed cybersecurity services
In April 2023, Stoïk expanded its offering by launching Stoïk MDR (Managed Detection and Response), a managed SOC (Security Operations Center) service, allowing companies to access advanced cybersecurity solutions without investing in costly teams or infrastructure. This additional service strengthens SMEs’ protection against cyber threats and enables better anticipation of incidents. By combining its insurance product with managed security services, Stoïk transforms insurance into a comprehensive protection ecosystem.
Rapid incident response
In the event of an incident, insured companies can rely on CERT-Stoïk, an in-house team of cybersecurity experts ready to intervene quickly to resolve issues. This team offers real-time support to limit damage and ensure a swift recovery of operations. By leveraging this specialized team, Stoïk ensures that businesses benefit not only from financial coverage but also from operational support in times of crisis.
European growth backed by strategic partners
Alongside its growth in France, Stoïk has successfully expanded into Germany, where its Cologne office, opened just a year ago, already employs 15 staff. This expansion extends to Austria and Monaco, with plans to rapidly expand into other European countries. Stoïk relies on digital distribution through brokers, offering a simple formula that enables quotes to be generated in minutes and claims to be efficiently managed.
Fundraising to accelerate expansion
To support this growth, Stoïk has announced a €25 million Series B funding round, led by Alven, with participation from existing investors such as Andreessen Horowitz, Munich Re Ventures, Opera Tech Ventures, and Anthemis. A new strategic partner, Tokio Marine HCC International, has joined as a key investor, strengthening ties by taking a stake in the company. This funding brings Stoïk’s total capital raised to €50 million and will enable the company to enhance its cybersecurity services and continue its European expansion.
