Templarbit’s cyber platform is designed to identify susceptibilities in a company’s network. Credit: Philipp Katzenberger on Unsplash.

Canadian cyber insurtech firm BOXX Insurance has acquired American cyber threat intelligence company Templarbit for an undisclosed sum.

Founded in 2017 by Bjoern Zinssmeister, Templarbit has offices Palo Alto, California, and Los Angeles.

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Templarbit’s cyber threat intelligence platform is designed to identify susceptibilities in a company’s network that hackers can exploit and alarm the companies.

It can autonomously discover, classify as well as analyse a company’s complete landscape of digital assets.

The platform can also identify the unique risk profile for each digital asset and the real business costs that a company may have to bear in case a digital asset is breached.

BOXX co-founder and CEO Vishal Kundi said: “Bringing Templarbit’s team and technology in-house was a natural next step for us.

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“It shows how strategically important we believe proactive cyber risk protection is to the continued growth of our business. We are excited to welcome Bjoern and the Templarbit team to BOXX.”

Following the acquisition, Zinssmeister will serve as head of engineering at BOXX Labs, the newly formed R&D division of BOXX.

Zinssmeister said: “The Templarbit technology platform has demonstrated that it is possible to deliver both effective and affordable cybersecurity capabilities to the small and midsize business segment using intelligent automation and threat intelligence.

“This is an incredibly exciting time to be joining the BOXX family, and I look forward to what’s next.”

In December last year, BOXX joined forces with Equifax to launch a new offering aimed at protecting customers from cyber threats.

In September 2021, the insurtech startup closed its oversubscribed $10m Series A funding round to fund its global expansion plans.