Stoïk

High-Level Overview

Stoïk is a French insurtech startup founded in 2021 that builds a combined cyber insurance and cybersecurity platform tailored for SMEs, empowering insurance brokers to protect small and medium-sized businesses against cyber risks.[1][3][4] It offers Stoïk Protect (a prevention platform with automated risk assessment and monitoring tools), Stoïk MDR (managed detection and response services), and comprehensive insurance coverage up to €10 million, backed by major insurers, solving the dual problem of high cyber vulnerability and inadequate protection for SMEs lacking in-house expertise.[1][3][6] Stoïk serves over 1,000 brokers across France, Germany, and Austria, targeting SMEs with up to €1 billion in turnover; by end-2024, it aimed for 5,000 policyholders and €25 million in premiums, following rapid expansion like a Cologne office generating millions in premiums.[1][4][6]

The company has raised ~$39M total, including a €25M Series A in 2025 from Andreessen Horowitz and others, building on €10M (2024) and €11M (2022) rounds, with strong underwriting profitability and team growth in underwriting, cybersecurity, and development.[1][5]

Origin Story

Stoïk was founded in 2021 in Paris by Jules Veyrat (CEO), Alexandre Andreini, Nicolas Sayer (tech and product lead with fintech background), and Philippe Mangematin (actuary with experience at Swiss Re and co-founder of insurer Seyna).[1][3][4] The idea emerged from recognizing SMEs' vulnerability to ransomware and cyber attacks despite limited resources for prevention or insurance—Veyrat emphasized insuring *and* protecting clients via a 24/7 hotline and monitoring tools.[3]

Early traction came quickly: a $4.3M seed in 2022 from Alven Capital, Anthemis Group, Kima Ventures, and angels like Henry Kravis enabled partnerships with insurers and the launch of automated scanning (e.g., DNS checks, vulnerability scores).[3] Pivotal moments include 2024's €10M raise for European expansion into Germany/Austria, Stoïk MDR launch, and 2025's €25M for team scaling and profitability.[1]

Core Differentiators

• Integrated Insurance + Prevention Model: Unlike traditional cyber insurance, Stoïk bundles coverage with active tools like automated underwriting (replacing questionnaires with scans), Stoïk Protect for continuous monitoring/fix recommendations, and Stoïk MDR for affordable SOC-level security, aligning incentives to reduce claims.[1][3][6]
• Broker-Centric Platform: Designed exclusively for brokers (1,000+ partners), enabling quotes in minutes, expert guidance, and 24/7 in-house Stoïk-CERT crisis response—turning brokers into cyber experts without heavy tech lift.[1][4][6]
• SME-Tailored Simplicity and Speed: Targets underserved SMEs (<€50M-€1B revenue) with fast onboarding, transparent coverage (up to €10M limits), and profitability via low-risk profiles from prevention—outpacing competitors like Elpha Secure by embedding software directly.[1][2][3]
• Proven Scale and Backing: €25M+ premiums trajectory, German office success, and top-tier investors (a16z) provide network and credibility in a fragmented market.[1][5]

Role in the Broader Tech Landscape

Stoïk rides the exploding cyber insurance market, fueled by rising ransomware (SMEs hit hardest, often underprotected) and EU digitalization mandates amid geopolitical threats.[1][3][4] Timing is ideal post-2022 seed, capitalizing on insurtech maturation and broker demand for tech-enabled products as traditional insurers struggle with volatile cyber claims.[3][6]

Market forces favor Stoïk: SMEs represent Europe's economic core but lag in cybersecurity spend; Stoïk's prevention-first approach cuts premiums/loss ratios, influencing the ecosystem by upskilling 1,000+ brokers and normalizing "active insurance" over passive policies—potentially setting standards as cyber risks evolve with AI/quantum threats.[1][4] Its a16z-led growth positions it against U.S. rivals like Elpha Secure, exporting a European model blending regulation-compliant tech with broker trust.[1][2]

Quick Take & Future Outlook

Stoïk is poised for pan-European dominance and potential U.S. entry, leveraging €25M to hit scale (e.g., 5,000+ policyholders) and profitability while expanding MDR/services amid 2025-2030 cyber boom.[1] Trends like AI-driven attacks and regulatory pushes (e.g., NIS2) will amplify demand; expect product evolution toward AI risk scoring and deeper broker AI tools, evolving Stoïk from insurtech pioneer to cyber resilience platform leader—securing Europe's SMEs as the new frontline in digital defense.[1][4][6]