CyberCube Gains a New $180M Investor in Spectrum Equity

Cyber risk modeler CyberCube has gained a new investor to support its long-term growth.

The software-as-a-service cyber risk analytics provider said Spectrum Equity is investing more than $180 million, subject to regulatory approvals. It equity firm with join ForgePoint Capital, Hudson Structured Capital Management (Bermuda) Ltd, and MTech Capital as a “cornerstone institutional investor,” CyberCube said.

CyberCube said it has more than 130 clients across the cyber insurance value chain, and it is utilized by 75% of the top 40 U.S. and European cyber insurers (by gross written premiums) as well as a majority of the top 20 global brokers.

“Cyber has the potential to become one of the largest lines of property and casualty insurance, as internet-connected technologies and artificial intelligence transform all corners of the global economy,” said Cyber CEO Pascal Millaire. “With the additional capital from Spectrum Equity, CyberCube is even better positioned to deliver the analytic tools our insurance clients need to sustainably grow into the 2030s.”

In 2025 CyberCube launched a new tool, called Exposure Manager, to evaluate cyber risk across entire portfolios. It joins a suite that includes Portfolio Manager for catastrophe modeling, Account Manager for single-risk underwriting, and Broking Manager for broker analytics. Also this year, CyberCube released Version 6.0 of Portfolio Manager, its flagship product.

In addition, CyberCube announced it named former Verisk CEO Scott G. Stephenson as chair of the Board of Directors. He has been on the board since 2022.