Cybercade Monthly Newsletter - May 2024
A look back on April 2024 and What's coming in May...
![]() 2024 GIA Cohort at Wellabe | ![]() Jim and Cameron at the GIS InsureTech Expo |
April 2024 Highlights
And That’s a Wrap!
We are excited to share news about Cybercade's successful participation in the 2024 Global Insurance Accelerator (GIA). This year marked the 10th cohort of the GIA, with Cybercade being one of the seven startups invited to engage in this prestigious 100-day accelerator. Throughout the program, Cybercade was fortunate to be paired with eight exceptional mentors specializing in insurance, regulations, technology, behavioral science, marketing, and actuarial sciences.
We want to take this opportunity to thank our fabulous mentors for contributing their time and expertise to the GIA mentor program. They are all superheroes in our eyes! Dr. Claire Muselman, Travis Grassel, Dave DeCapp, James Ryan, Nehru Cheddie, Sydney Conrad-Cook, Ben Meader, Bryan Falchuk.

Our time at the GIA culminated in a final showcase where we pitched our innovative solution to a broad audience of industry leaders on the big stage. This invaluable experience has sharpened our product-market fit, refined our narrative, and solidified our go-to-market plan. The connections established during the accelerator promise to be crucial as Cybercade continues to expand and influence the insurance industry. We look forward to leveraging these insights and relationships to drive our growth and innovation.
Patent Pending: SYSTEM AND METHODS FOR MEASURING HUMAN FACTORS OF CYBERSECURITY RISK. U.S. Patent Application No.: 63/636,593

Cybercade’s platform motivates, measures, and manages human cyber risk — and the patent we filed on April 19th, 2024, describes our methodology for quantifying an employee's potential cybersecurity risk to their organization. Submitting the patent application is a significant step forward in the growth of Cybercade. Essentially, we’ve shone a light on human risk — the source of 74% of all data breaches in 2023. The score synthesizes three key areas to produce the industry’s first measuring stick for human risk in an organization.
What We Measure: An employee's interaction with Cybercade’s game-based training programs and their performance in Cybercade’s phishing simulation platform.
What We Know: Comprehensive knowledge about the employee, including their job title, tenure, role, responsibilities, and access to sensitive data.
What Others Know: Information that could be exploited by external threats, such as the employee's social media activity, compromised credentials, and personal data that might be accessible on the dark web.

The First Measuring Stick for Human Cyber Risk
Cybercade <> Univ. of Iowa, Vaughan Institute of Risk Management and Insurance
During the spring 2024 academic semester, Cybercade partnered with The Vaughan Institute of Risk Management and Insurance on two research projects to examine human risk in cybersecurity and cyber insurance.

Over the course of the semester, Cybercade had the privilege of working with two phenomenal student groups in the Enterprise Risk Management course to explore human risk in depth. The groups conducted literature and research reviews, in-depth case studies, and field interviews with cyber insurance professionals to better understand the quickly evolving landscape of cyber insurance in 2024.

Both groups did a fantastic job presenting their final reports to Cybercade on April 30th. We’re extremely fortunate to have world-class academic institutions like the University of Iowa - Tippie College of Business in our backyard. The future of Risk Management and Insurance shines bright — due in large part to programs like the Vaughan Institute of Risk Management!
We’re Actively Raising Funds!
Following our incredible experience in the Global Insurance Accelerator, we’re excited to announce that our Seed Round Funding is now open. Given our platform's heavy reliance on technology, we're aggressively raising seed funding to bring our solution to market-ready status in the next 12 months. The funding will allow us to build a software development team to:
1) Rapidly build a library of cyber-themed games and
2) Create a more extensive Learning Management System to become the backbone of Cybercade’s SaaS platform.
Coming Up in May
SBIR Grant Application
We're excited to announce that Cybercade is gearing up to apply for the National Science Foundation’s Small Business Innovation Research (SBIR) Phase 1 grant, with an award of $250,000. This grant is a stepping stone toward fulfilling our mission of driving technological innovation and elevating cybersecurity measures across industries. Furthermore, this will allow Cybercade to vet our proprietary human risk score assessment system. This grant will also enable us to enhance our collaborations with research institutions, reinforcing the bridge between scientific research and tangible market-ready cybersecurity solutions. Stay tuned for updates on our journey through the SBIR grant process!

Cyber Risk & Insurance Innovation USA Conference
Cybercade will be in Chicago on May 29 and 30 for the Cyber Risk & Insurance Innovation USA Conference. Please reach out if you’re attending and would like to connect at the conference.