DeNexus obtains USD 17.5 million in Series A funding Round

Led by Punja Global Ventures, the funding round also saw participation from AXA XL, Prosegur/SegTech, and HCS Capital. With the newly acquired capital, DeNexus intends to accelerate its growth and expand its product offering and markets. In addition, the funding is set to solidify DeNexus’ position in the industry, allowing the company to address the increasing demand for comprehensive cyber risk management in industrial environments, and supporting organisations in navigating the complexities of cybersecurity threats and regulatory requirements.

Cyber threat management and security

When commenting on the announcement, representatives from DeNexus underlined that the investment assists their company’s development strategy, with it aiming to improve its product offering, grow its go-to-market team, and continue to advance its commitment to offering a full-stack, end-to-end cyber risk management solution to its customers. At the time of announcement, DeNexus’ solutions were deployed at more than 200 sites across the US, UK, and Europe. In addition, building on its offering from the customer base in the power electricity industry, the firm implemented its technology with data centre hyper scaler and global manufacturers. Also, DeNexus intends to collaborate with airport owners and operators, contributing to the cyber risk management of these activities and infrastructures.

Moreover, officials from Punja Global Ventures mentioned that DeNexus’ approach to managing cyber threats falls in line with the new cybersecurity regulations in the US, EMEA, and APAC, which require corporations to report on the governance of cyber risk. DeNexus also works towards assisting risk owners, shareholders, investors, boards, and the risk transfer market through its solution, DeRISK, which employs simulation, AI, machine learning, and internal operational technology network data to forecast incident probabilities, translating them into quantifiable financial risks.