Insurtech is picking up steam in a big way, but startup Parametrix thinks there is still plenty of room left to innovate. The company, which today announced the close of a $17.5 million funding round, offers insurance policies for companies that rely on third-party cloud providers, e-commerce services, payment gateways and CRM systems. In essence, downtime from one of these services can cost a company millions in revenue, but it’s completely out of their control. A fact of life, one might say, until Parametrix.
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About Parametrix
Parametrix is the leading provider of digital infrastructure insurance, protecting organizations against downtime across cloud, AI, SaaS and data center ecosystems. Leveraging a proprietary network of monitoring systems, they collect and analyze billions of data points on the performance and availability of critical infrastructure, enabling real-time underwriting and claims automation. Parametrix’s solutions help businesses, data center stakeholders, and (re)insurers to quantify, manage, and transfer the financial risks of downtime with unmatched precision. The company is a Managing General Agent and Lloyd’s Coverholder, with policies backed by major A-rated global insurers, and is headquartered in New York.
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