Elpha Secure
Elpha Secure is a U.S. cyber MGA that bundles cyber insurance with proprietary cybersecurity software — including MDR, email security, financial fraud detection, MFA, and backups — for small and midsize businesses, distributed primarily through insurance brokers and carrier partnerships.
- Company typePrivate
- Founded2021
- HeadquartersNew York, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Elpha Secure does
Elpha Secure is a U.S.-based Managing General Agent (MGA) that distributes an integrated cyber insurance and cybersecurity software product to small and midsize businesses (SMBs). The company was formed to address the structural gap in the SMB market — 43% of cyber attacks target small businesses and 62% of SMBs reported AI-driven attacks in the past year — where SMBs cannot afford piecemeal enterprise security stacks and frequently fail to qualify for standalone cyber insurance due to inadequate cyber hygiene. Elpha Secure's go-to-market is anchored on insurance brokers and agents, with carrier partnerships extending reach (State Farm, The Hartford, AXIS Capital).
The product architecture is a bundled subscription that pairs a cyber insurance policy with a proprietary security technology stack. Core modules include Managed Detection and Response (MDR) with 24/7 SOC monitoring; ES Mail, a cloud-based email security solution for Microsoft 365 that filters an additional ~25% of hostile email; Financial Fraud Detection (FFD) trained on cyber insurance incident data; offsite encrypted backups (1TB, 360-day retention); multi-factor authentication over RDP/VNC; vulnerability scanning; and XDR integrations with SentinelOne, TrendMicro, Sophos, and CrowdStrike. Cybercrime coverage limits are available up to $500,000, with entry-level policies starting at approximately $1,000 per year. The platform is SOC 2 Type II certified and VB100 certified.
Revenue is generated through recurring cyber insurance premiums, with the cybersecurity software included as part of the policy bundle rather than sold as a separate SKU. Distribution is multi-channel: a broker-facing portal and broker resources as the primary motion, supplemented by direct "Request a Demo" demand generation on the company website, carrier partnerships, and technology platform integrations (notably SentinelOne and Socotra). The company is privately held (legal entity: Elpha Secure Technology Inc.), headquartered in New York City, and has raised $20 million in a single disclosed round (Series A, October 2022) led by Canapi Ventures with participation from State Farm, The Hartford, Stone Point Capital, AXIS Capital, Fermat Capital Management, and EOS Venture Partners.
Elpha Secure firmographics
Firmographics- Name
- Elpha Secure
- Legal name
- Elpha Secure Technology Inc.
- Website
- https://elphasecure.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Elpha Secure is a U.S. cyber MGA that bundles cyber insurance with proprietary cybersecurity software — including MDR, email security, financial fraud detection, MFA, and backups — for small and midsize businesses, distributed primarily through insurance brokers and carrier partnerships.
- Ownership category
- akta.pro rank
Elpha Secure industry classification
Industry- Product category
- Cyber Insurance
- NAICS
- Agencies, Brokerages, and Other Insurance Related Activities (5242), Security Systems Services (except Locksmiths) (561621), Security Systems Services (56162)
- SIC
- Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Standalone Cyber Liability Insurance (FSAJAOAA)
- akta.pro secondary industries
- Network Security & Privacy Liability (Third-Party) (FSAJAOAE), Social Engineering / Funds Transfer Fraud Coverage (FSAJAOAI), Cyber Reinsurance (FSAOABAM)
Keywords
Where Elpha Secure is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Elpha Secure business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Cyber Insurance Premiums: Elpha Secure generates revenue primarily through cyber insurance policy premiums sold to small and midsize businesses. Policies include integrated cybersecurity software coverage, with pricing starting as low as $1,000 per year and cybercrime coverage limits expanded up to $500,000. The bundled model combines insurance with security software as a single product.
- Bundled Cybersecurity Software: Advanced security software is provided as part of the cyber insurance product for critical coverage and robust security protection, included with every policy. ES Mail is available as part of every Elpha insurance policy at no additional cost.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Entry-level cyber insurance policy with cybersecurity software bundle |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels5 records
Elpha Secure product offering
Product offeringCore offering
Elpha Secure provides a fully integrated cyber insurance and cybersecurity software product for small and midsize businesses. Every cyber insurance policy is bundled with proprietary security software including Managed Detection and Response (MDR), ES Mail (Microsoft 365 email security with financial fraud detection), remote access protection with multi-factor authentication, 1TB offsite encrypted backups, vulnerability scanning, and 24/7 Security Operations Center monitoring. Policies are priced from $1,000 per year with cybercrime coverage limits up to $500,000, sold via brokers and direct sales.
Product overview
Elpha Secure is a fully integrated cyber insurance and security platform for small and midsize businesses, combining cyber insurance coverage with proprietary cybersecurity software. The platform architecture consists of a core cyber insurance product paired with layered security modules including Managed Detection and Response (MDR), ES Mail (email security), Extended Detection and Response (XDR) Integration with third-party EDR platforms (SentinelOne, TrendMicro, Sophos, CrowdStrike), Financial Fraud Detection (FFD), Multi-Factor Authentication for Remote Access, Data Backup, Vulnerability Scanning, and Security Operations Center (SOC) monitoring. The product ecosystem also includes partnership-enabled tools such as Ketch Privacy Health Scan for compliance management.
Differentiator
Problem solved
Functional benefit
Brands
- ES Mail: Cloud-based email security solution providing Microsoft 365 email protection, spam filtering, phishing prevention, and financial fraud detection.
Products and services
- Elpha Secure Cyber Insurance Cyber insurance product for small and midsize businesses providing financial protection against cyber incidents, data breaches, and cybercrime losses, with every policy bundled with proprietary cybersecurity software and SOC monitoring. Coverage is offered in the U.S. through surplus lines producers.
- Managed Detection and Response (MDR) Proprietary managed detection and response platform delivering malware detection, vulnerability scanning, multi-factor authentication for remote access (RDP/VNC), and 1TB offsite encrypted backups (360-day retention) with 24/7 monitoring by Elpha's Security Operations Center. Included with every Elpha Secure cyber insurance policy.
- ES Mail Lightweight cloud-based email security solution integrated with Microsoft Office 365 that intercepts spam and bulk phishing attempts, detects financial fraud (including suspicious payment instructions, cryptocurrency transactions, and deceptive tax directives), and filters an additional 25% of monthly hostile emails targeting SMBs. Available with every Elpha insurance policy at no additional cost.
- Ketch Privacy Health Scan Partnership-enabled diagnostic tool for policyholders that identifies privacy and compliance risks across digital properties, with access to Ketch's Consent Management, Data Mapping, and Data Subject Rights Automation capabilities for more mature policyholders.
Quantifiable outcome
- 43% of cyber attacks target small businesses; 62% of small businesses reported AI-driven attacks in the past year
- +3 more outcomes
Companies that use Elpha Secure
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles2 records
Elpha Secure technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
AI capability2 records
Feature8 records
Elpha Secure partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- KetchcoreStrategic partnership between Elpha Secure and Ketch (AI Privacy Company) to help businesses identify and reduce compliance and litigation risks. Policyholders gain access to a privacy 'health scan' diagnostic tool identifying privacy and compliance risks across digital properties. Ketch offers complementary website privacy banners for early-stage policyholders and robust capabilities (Consent Management, Data Mapping, Data Subject Rights Automation) for more mature policyholders.
- SentinelOnecoreElpha Secure partnered with SentinelOne (AI-native security leader) to deliver comprehensive cyber solutions integrating Elpha's insurance product with SentinelOne's advanced security platform for SMBs. The partnership provides seamless installation support, Security Operations Center management, real-time threat monitoring and mitigation, and a single cost-effective transaction combining best-in-class EDR with full coverage cyber insurance.
- AXISminorAXIS partnered with Elpha Secure to provide cybersecurity software for small businesses. AXIS is a global insurer and reinsurer offering specialty insurance and reinsurance products.
Scale indicators5 records
Expansion highlights6 records
Elpha Secure competitors and assessment
Company assessmentDirect peers
- Coalition: Coalition is the largest cyber-focused MGA, offering cyber insurance combined with proactive security tools (attack surface monitoring, incident response) for SMBs and mid-market — directly comparable to Elpha's integrated insurance-plus-security model.
- At-Bay: At-Bay is a cyber MGA that bundles cyber insurance with proprietary security monitoring (At-Bay Stance Insight) for small and mid-sized businesses, mirroring Elpha's bundled insurance-plus-software value proposition.
- Cowbell Cyber: Cowbell is a cyber MGA providing adaptive cyber insurance with continuous risk assessment and AI-driven underwriting for SMBs, directly competing with Elpha in the bundled cyber coverage for small businesses segment.
- Corvus Insurance: Corvus is a commercial insurance MGA specializing in cyber and tech E&O with proprietary data-driven underwriting for SMBs — a close analog in product structure and target market to Elpha Secure.
- Resilience Cyber Insurance: Resilience combines cyber insurance with a security platform for mid-market and SMB clients, offering risk quantification and incident response services that overlap with Elpha's integrated offering.
Broad incumbents
- Chubb: Chubb is a global P&C insurer with a large cyber insurance portfolio serving SMBs and mid-market, often distributing through the same broker networks Elpha targets — establishing the competitive price benchmark.
- Travelers: Travelers is a major US P&C carrier with cyber coverage for SMBs distributed through independent agents, directly competing for the same broker-fulfilled cyber insurance budgets as Elpha.
- Beazley: Beazley is a global specialty insurer with a leading cyber and breach response franchise serving small and mid-market clients, competing with Elpha in the SMB cyber insurance segment.
- Tokio Marine HCC: Tokio Marine HCC's Cyber & Professional Lines Group is a major specialty cyber writer with strong broker relationships — comparable to Elpha as an established cyber carrier competing for similar risks.
Emerging players
- Measured Analytics and Insurance: Measured is an analytics-driven cyber MGA for SMBs, providing data-rich underwriting and risk mitigation — a smaller emerging player in the same cyber MGA category as Elpha Secure.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Elpha Secure social profiles
Digital presenceElpha Secure compliance and trust
Trust signalCompliance2 records
Elpha Secure financial estimates
Financial estimateRevenue estimate
Valuation estimate
Elpha Secure leadership team
Management profileNumber of profiles
Profiles4 records
Elpha Secure funding detail
Funding detailFunding overview
Funding rounds1 record
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Elpha Secure M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Elpha Secure
What does Elpha Secure do?
Elpha Secure provides a fully integrated cyber insurance and cybersecurity software product for small and midsize businesses. Every cyber insurance policy is bundled with proprietary security software including Managed Detection and Response (MDR), ES Mail (Microsoft 365 email security with financial fraud detection), remote access protection with multi-factor authentication, 1TB offsite encrypted backups, vulnerability scanning, and 24/7 Security Operations Center monitoring. Policies are priced from $1,000 per year with cybercrime coverage limits up to $500,000, sold via brokers and direct sales.
Is Elpha Secure a public or private company?
Elpha Secure is a private company. It is classified as venture growth investor backed and is currently operating.
When was Elpha Secure founded?
Elpha Secure was founded in 2021. It employs 11 to 50 people.
Where is Elpha Secure based?
Elpha Secure is headquartered in New York, United States, in the North America region.
How does Elpha Secure make money?
Two revenue lines are on record. Cyber Insurance Premiums are the primary driver. The others are bundled Cybersecurity Software.
Who are Elpha Secure's main competitors?
Direct peers on record are Coalition, At-Bay, Cowbell Cyber, Corvus Insurance and Resilience Cyber Insurance. Broad incumbents are Chubb, Travelers, Beazley and Tokio Marine HCC. Measured Analytics and Insurance is listed as an emerging player.
Does Elpha Secure have an API?
No public API is recorded for Elpha Secure.
What industry is Elpha Secure in?
Elpha Secure's product category is Cyber Insurance. Its primary akta.pro industry code is FSAJAOAA, Standalone Cyber Liability Insurance, with a secondary code of FSAJAOAE, Network Security & Privacy Liability (Third-Party). Its NAICS code is 5242 and its SIC code is 6331.