HCS Capital, WGG Partners & Vestech Partners expand their investment in DeNexus, while PROSEGUR becomes a shareholder in a late seed financing.
Sausalito, CA: DeNexus Inc, is excited to announce additional late seed financing to support pre-A global expansion efforts, as well as key new additions to the Board of Directors. These two milestones underscore the growing demand for cyber risk solutions serving the industrial sector and DeNexus technology. This round of funding was led by HCS Capital, including Prosegur TECH VENTURES S.A. (the corporate VC of the global security company PROSEGUR S.A.), Herbert Madan of WGG Partners, and Vestech Partners.
With the additional seed funding, DeNexus Inc. will continue expand the SaaS product line, launch its cyber insurance business, and accelerate partner integrations towards an A round later in 2022. Also both the addition of Alex Horvitz (CEO at HCS Capital) to the Board of Directors and PROSEGUR as an Observer to the Board, bring more industry-leading cyber insurance and cybersecurity expertise to the DeNexus governance team.
DeNexus has demonstrated that the combination of internal and external data coupled with very sophisticated analytics and machine learning can predict cyber risks and potential financial loss. This is a tremendous breakthrough in managing and specially avoiding cyber risks in industrial settings. A definite game-changer in cyber risk management and cyber insurance. We at HCS are excited about the opportunity to keep on supporting DeNexus in its growth and expansion and are very impressed by the executive team that the company has built. – quote from Alex Horvitz, CEO at HCS Capital.
We are glad to become DeNexus shareholder as they are developing a truly unique and innovative serviced that will bring enormous advantages to the global cybersecurity landscape. Collaborating with DeNexus makes a perfect fit with our strategic vision to consolidate Prosegur’s leadership position in the security industry worldwide by driving growth through innovation. Prosegur Tech Ventures initiative is part of the global transformation project Prosegur has embarked on.
–quote from Javier López-Huerta, Managing Director at Prosegur TECH VENTURES
We seek, in collaboration with our investees, to strengthen our services offer in both physical and logical security, and to continue generating value for the group in the long term. We are actively leading the transformation of the security industry through the incorporation of technology-based solutions in services, while strengthening and differentiating our position in an increasingly competitive environment.
–quote from Matt Sack, CEO at Prosegur Security USA
We are looking forward to support Jose and his team to advance their platform for packaging cyber risk using an innovative blockchain approach for cyber insurers. We are excited about the potential to create a marketplace for insurers where quantified risk can be sold based on models that utilize actual customer data. –quote from Herbert Madan, Managing Partner at WGG Partners and Punja Global
About HCS Capital:
The HCS team is composed of executives with experience in M&A, finance, strategy, PE investments, and operational improvement. Additionally, HCS leverages a network of specialists (legal, technology and industry experts) to develop a deep understanding of business opportunities and delivery models. The firm invests in areas where the combination of technology-driven-transformations (digital client interaction, data analytics powered by machine learning to predict commercial, and risk related outcomes); regulatory-discontinuities; and existing business model weaknesses create unique disruption opportunities. HCS invests in 3 distinct verticals of Banking, Insurance and Healthcare.
About PROSEGUR:
Prosegur is a global benchmark in the private security sector. With its business lines - Prosegur Security, Prosegur Cash, Prosegur Alarms, Prosegur AVOS and Cypher - it provides businesses and households with security you can trust based on the most advanced solutions available on the market. With a global presence, Prosegur had a turnover of 3.4 billion euros in 2020, is listed on the Spanish stock exchanges with the PSG ticker, and currently has more than 150,000 employees.
About WGG Partners and Herbert Madan:
Mr. Madan is an experienced venture investor in privately-held technology companies. He has over 24 years of technology and business leadership experience both as a serial entrepreneur and an operating executive. Herb’s present and past investments include: Huddle (acquired by TurnRiver), Redseal Systems (acquired by Symphony Technologies), 41st Parameter (acquired by Experian), TrustArc, Simility (acquired by PayPal), Dome9 (acquired by Checkpoint), Ionic Security, HolistiCyber, Area 1 Security, DATAllegro (acquired by Microsoft), Postpath (acquired by Cisco), Ocarina Networks (acquired by Dell), Clairmail (acquired by Monetise PLC), Palo Alto Networks (NASDAQ: PAN), Aster Data (acquired by Teradata), Cortina Systems, Dataguise, Tigertext, Moovweb, and Pertino Networks. Punja Global Ventures is Madan’s last global fund specialized on investing in blockchain technologies.
About DeNexus:
DeNexus is the leading provider of cyber risk modeling for industrial enterprises.
Our mission is to build the global standard for industrial cyber risk quantification. Our flagship platform, DeRISK, is the world’s first self-adaptive software platform that using evidence-based data predicts where and how breaches are likely to occur in unique client contexts, translating that information into dollars at risk. Fortune 500 companies, from power generation to manufacturing to other critical infrastructure, rely on DeNexus to understand their bespoke cybersecurity economics and optimize their risk-reduction ROI.
Press Contact: publicrelations@denexus.io
Press Release : Mar 26, 2024 8:15:00 AM