DeNexus has successfully raised $17.5 million in a Series A funding round to fuel its expansion and further develop its cyber risk management solutions for industrial environments. The round was led by Punja Global Ventures, with additional participation from AXA XL, Prosegur/SegTech, and HCS Capital.
This funding will allow DeNexus to accelerate its growth, expand into new markets, and enhance its flagship product, DeRISK, which uses AI and machine learning to help organizations manage cyber risks in operational technology (OT) infrastructures. CEO Jose Seara expressed confidence in the company’s direction, noting: “We’re poised to expand our go-to-market team, enhance our product offerings, and continue delivering on our commitment to provide a full-stack, end-to-end cyber risk management solution to our customers.”
Punja Global Ventures’ co-founder, Rimmo Jolly, who joins the DeNexus Board of Directors, highlighted the company’s alignment with emerging cybersecurity regulations in the U.S., EMEA, and APAC: “DeNexus is at the forefront of a crucial shift towards risk-based cybersecurity management. Their approach aligns perfectly with new cybersecurity regulations in the U.S., EMEA, and APAC, which demand that corporations report on how they manage and govern cyber risk. We’re excited to support DeNexus as they continue to innovate in this critical space.”
Libby Benet, Global Chief Underwriter Officer at AXA XL, will serve as a Board Observer. Benet emphasized the importance of DeNexus’ technology.
“As cyber threats to critical infrastructures continue to evolve, it’s crucial that we support innovative solutions that can protect these vital systems, including proper affirmative insurance protection,” said Benet. “DeNexus’ approach to cyber risk management is both timely and essential to build resilience in industrial companies and physical critical infrastructures, and we’re proud to be part of their journey.”
Prosegur Tech Ventures Director, Barbara Albizuri, added: “Prosegur’s partnership with DeNexus reinforces our joint commitment to safeguarding critical infrastructure by combining cutting-edge cyber risk management technology with physical security expertise.”
DeNexus’ board includes key industry figures like Alex Horvitz of HCS Capital, who stressed the value of DeNexus’ technology in transferring cyber risk to insurance markets. The Series A funding marks a significant step forward for DeNexus as it continues to address the increasing demand for comprehensive cyber risk solutions across industrial sectors.
