Paladin Cyber, which provides comprehensive cyber protection for businesses and government entities, will focus its attention on small and mid-sized businesses throughout the New York metropolitan area as part of NYC’s global cybersecurity resilience initiative.
As one of three winners of the NYCx Cybersecurity Moonshot Challenge, Paladin Cyber will be introducing affordable and innovative cybersecurity services and insurance to NYC’s small and mid-sized businesses, such as Argo Cyber Sphere. This breakthrough digital solution combines a compelling range of first- and third-party cyber-risk insurance coverages (offered through insurance agents and brokers in conjunction with Argo Group International Holdings, Ltd.) with full cybersecurity protection. It includes the Paladin Shield platform, which enables small businesses to effectively protect against modern cyber threats. In addition to active network, password and email defense, Paladin’s services include employee education and assessment. Notably, the suite of tools can be deployed and managed without any in-house cybersecurity expertise.
“More small and mid-sized business owners now recognize that cyber-related exposures are rapidly becoming their single most significant enterprise risk,” said Han Wang, CEO, Paladin Cyber. “Through this unique collaboration with New York City, we’re excited to offer a comprehensive cyber-risk solution that includes easy-to-use technical defenses and broad insurance coverage at a cost affordable to even the smallest businesses.”
Besides offering cybersecurity and risk management solutions to the city’s small and mid-sized businesses, Paladin Cyber will begin working with the Business Improvement Districts of each borough to identify opportunities help small and mid-sized businesses in all parts of the city understand their evolving cyber-related exposures and develop strategies to protect their enterprises, business partners and customers against these threats.
Launched in 2018 to help strengthen New York City as a leading hub for cybersecurity, the Moonshot Challenge is a core component of NYCEDC’s Cyber NYC initiative, a $100 million public-private investment aimed at transforming New York City into a global leader of cybersecurity innovation and talent.
The City partnered with Israel’s leading venture capital firm, Jerusalem Venture Partners (JVP), and global partners from Israel, Japan, South Korea, Singapore, Berlin, Helsinki, London, and Paris to establish a consortium of international partners with a shared interest in developing the most innovative and effective cybersecurity solutions. The three winners – Paladin Cyber, INKY and SKOUT Cybersecurity – are eligible for acceptance into JVP’s inaugural Cybersecurity Accelerator cohort aimed at helping cybersecurity startups accelerate their growth and footprint in New York City, and will further compete for JVP’s investment funding.
Announced in November 2018, the NYCx Cybersecurity Moonshot Challenge received more than 169 proposals from 77 cities representing 18 countries from around the world, making it the most well-received global challenge launched in the New York City Mayor’s Office of the Chief Technology Officer.
About Paladin Cyber
Established in 2017, Paladin Cyber provides comprehensive cyber protection for small and medium businesses through differentiated insurance programs and easy-to-use technology. Paladin’s Shield platform is a full cybersecurity solution built from the ground up to enable smaller businesses to effectively protect against modern cyber threats without needing cybersecurity expertise. Through its modern risk management capabilities, Paladin provides unique product differentiation and superior loss results to carrier partners. For more information, visit https://www.meetpaladin.com.