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1Fix the driver behind crashes, sound loss and screen glitches2Repair Windows errors before they cause bigger problems3Scan for outdated or missing drivers - takes under a minuteBOXX Insurance announced a US$14.4 million Series B on January 31, 2023, led by Zurich Insurance Company Ltd. BOXX said the financing brought investor funding over the previous 16 months to US$24.5 million. Zurich later completed its acquisition of BOXX on July 3, 2025.
How much did BOXX Insurance raise, and who led the round?
BOXX announced a US$14.4 million Series B led by Zurich Insurance Company Ltd. in a January 31, 2023 announcement. The company said the round brought its total investor funding over the preceding 16 months to US$24.5 million.
The public announcement date and the recorded closing date differ by one day: BOXX’s legal counsel, Osler, lists the US$14.4 million transaction as closing on February 1, 2023. That is consistent with BOXX announcing the financing the day before. Osler’s transaction summary does not identify a valuation or a full list of Series B investors.
What did BOXX do at the time?
BOXX described itself in 2023 as a Toronto-headquartered insurtech combining cyber insurance with security services for individuals and businesses. Its model was to pair insurance with digital tools and services intended to help customers anticipate, prevent, respond to, and recover from cyber incidents.
CEO and co-founder Vishal Kundi described the goal as helping customers “stay ahead of cyber threats in addition to being there to help them respond and recover from an incident.” This was Kundi’s description of the company’s mission, not an independent assessment of product performance.
What growth and customer figures did BOXX report?
In its January 2023 announcement, BOXX said it had reached its combined goal to grow 10x over 24 months and continued to outperform its underwriting targets. The company also reported protecting more than 250,000 individuals and 10,000 businesses, and said its staff had grown from five to 36 over the previous year. These are company-reported figures; the reviewed transaction and company materials do not independently audit or verify them.
How did BOXX describe its plans for the financing?
BOXX linked the round to expanding its product and security services, investing in customer experience, and upgrading its underwriting platform. The announcement did not provide a formal budget or percentage allocation of proceeds.
The financing followed several product developments BOXX described in the announcement:
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- BOXX said it acquired cybersecurity platform Templarbit in October 2022 and began integrating its threat-intelligence software into its product suite and underwriting framework.
- During 2022, it said it launched Hackbusters incident response, a virtual CISO service for businesses, and a consumer mobile app.
Jack Howell, then identified as CEO of Zurich Global Ventures, said building cyber-insurance solutions for small businesses and consumers was difficult because it was costly and required deep technical expertise. That was the investor’s view in the funding announcement, not an independent industry study.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened to BOXX after the Series B?
Zurich announced on July 3, 2025, that it had completed its acquisition of BOXX. Zurich said BOXX would be integrated into Zurich Global Ventures while continuing under the BOXX brand, supporting Zurich’s expansion of cyber insurance and services for retail customers and small and medium-sized enterprises. Zurich’s acquisition announcement is the clearest corporate-status update available here.
Zurich’s current BOXX overview describes services for households and businesses that combine cyber-risk prediction, prevention, response, and recovery with tailored insurance, distributed through broker, partner, and affinity channels. It does not establish policy terms or eligibility for a particular location. The funding announcement likewise is not enough to compare coverage, exclusions, claims support, or service availability.
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