Summary:Onda

🛡️ Onda is a Lloyd's-backed cyber insurance MGA founded in 2022 by Palantir Technologies co-founder Joe Lonsdale and cybersecurity executive Paul Calatayud, operating through a proprietary Navigator platform that replaces traditional proposal forms with automated cyber risk assessments across the United Kingdom, France, and the United States. The company distributes exclusively through brokers, writing on Lloyd's paper via Canopius, Argenta, and Everest syndicates in Europe and through Crum & Forster surplus lines paper in the US, with two products — Onda+ for SMEs (up to £100 million revenue) and Onda X for mid-market companies (up to $1 billion revenue) — capped at £5 million / $5 million per risk. Having raised approximately $10 million from generalist tech investors led by 8VC, K5 Global, and Northstar.VC, Onda remains early-stage with CKRe Limited (its UK distribution vehicle) reporting just £2 million in turnover and £5.1 million in cash reserves as of December 2023, while elevated talent retention risk — including co-founder departure after 15 months and the loss of the entire French operational leadership to competitors in 2025 — represents the most significant due diligence concern.