Cork, a cyber warranty company for managed service providers (MSPs) serving small businesses and the ISV solutions they manage, emerges today from stealth.
Launched by DVx Ventures, which led its $6 million in seed funding with participation from Outsiders Fund and Vestigo Ventures, Cork offers its trademarked “Protection from the Inside Out,” with a mission to transform the industry by providing simple and accessible financial protection against cyber risks.
In conjunction with the launch, Cork announced strategic partnerships with Barracuda Networks and River Run. At launch, the Cork warranty will be bundled with renewals of Barracuda’s Managed XDR Solution.
River Run, a 30-year-old MSP serving manufacturers, financial institutions, law firms, school districts and private schools, government, health care, non-profits and auto dealerships, will offer the Cork monitoring platform and warranty to its clients.
“The accelerating need for cyber financial protection is causing premiums to increase and coverages to decline – disproportionately affecting SMBs,” said Carlson Choi, CEO at Cork (pictured). “Cork is addressing this problem in a different way through a complete data-driven warranty solution designed for MSPs and their SMB customers. It’s easy to access, and provides actionable insights, flexible premiums and simple claims management.”
Cork’s platform is designed to offer MSPs and their customers peace of mind and reduce cyber risk with near-instant financial coverage and settlements in the aftermath of security incidents. The warranty is backed by an inside-out approach to active risk monitoring, detection and remediation, using real-time data telemetry to underwrite the cyber risk of the protected environment. This approach gives MSPs timely insights to enable quick action.
“From my time founding and growing Datto into a multibillion-dollar business, I’m intimately familiar with what keeps MSPs up at night,” said Austin McChord, managing director at Outsiders Fund. “This includes the need for a trusted simple, accessible financial solution against cyber risks. Cork meets this need with a monitoring and warranty product that easily plugs into their tech stack, adds tremendous value to their services and gives instant peace of mind to the SMB customers they serve.”
DVx Ventures’ founder and CEO Jon McNeill added, “Cybersecurity and risk management are top of mind for organizations of all sizes. While large enterprises have the resources to mitigate attacks, small businesses rely on their MSP partners for this know-how. Through our inside-out monitoring, rapid underwriting, and easy claims tracking, we put security control in the hands of MSPs to financially protect them and their clients. With a world-class team and investors in place, we’re ready to deliver on Cork’s mission.”
For more information on Cork and to sign up for the Cork early access program, visit corkinc.com.
