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Celebrating 5 Years of Pioneering OT Cyber Risk Quantification and Management at DeNexus

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DeNexus holds the distinction of being the only company to leverage inside-out data to quantify OT cyber risk in monetary terms. Here are milestones into our journey.

This month marks an exciting milestone for DeNexus as we celebrate the company anniversary. Since our inception, our founding team has been driven by three core goals – enabling energy companies to better understand their cyber exposures, elevating the topic of cyber risk to the boardroom, and solving risk transfer to insurance for physical critical infrastructures. Looking back at our journey, we are proud to share the remarkable achievements that have brought us to where we stand today. 

 

DeNexus holds the distinction of being the only company to leverage inside-out data to quantify OT cyber risk in monetary terms. This groundbreaking capability sets us apart from the competition and empowers our clients with invaluable insights into the financial implications of cyber threats. 

 

Changing the Industry with DeRISK 

Our cloud-based platform for Cyber Risk Quantification and Management, DeRISK, has gained widespread adoption, with deployments at 200 sites across North America, Central America, Europe, and the Middle East. What began as a focus on the renewable energy sector has now expanded to encompass five industry verticals: Power Generation, Electricity Transmission & Distribution, Transportation/Airports, Manufacturing (Pharmaceuticals, Food & Beverage, Electrical & Electronic components), and Hyperscale Data Centers. 

 

While our data and modeling capabilities, such as monitoring attack paths, are common across industries, we have also developed industry-specific models to evaluate financial losses due to cyber events. These models are tailored to the unique challenges faced by each sector, ensuring accurate and relevant evaluation of value at risk and expected financial loss. 

 

Increasing Partnerships & Collaboration to Empower Customers to Understand their Risk 

Integration partners play a crucial role in our success, and we leverage more than 50 data sources to inform our models. By combining external data, threat intelligence, and company firmographics, we gain a comprehensive understanding of an organization's attractiveness to threats across various domains. 

 

For inside-out data and to ensure that our risk assessments are grounded in real-time operational data, we partner with top OT/ICS Intrusion Detection Systems to continuously ingest vulnerability, network topology, and security control data, translating these security signals into business metrics. 

 

Recognizing the importance of industry standards and frameworks, we map ingested data to the two main Cybersecurity Frameworks used in North America and Europe: NIST CSF with 108 security controls, and ISO 27001 with 114 security controls. Additionally, we support NERC-CIP and DeNexus' own proprietary framework (DNX CSF), as well as the two main maturity models for cybersecurity: C2M2 with 350 cybersecurity best practices, and the NIST CSF Tier scale. 

 

To empower CISOs in their collaboration with CFOs and boards, we deliver customizable executive reports that facilitate informed decision-making regarding cybersecurity investments. Our advanced modeling capabilities enable us to run 50 million scenarios in our simulations on every site, every week, providing unparalleled insights and risk analysis. 

 

 

Our Team Makes It Happen 

At the core of our success is our exceptional team, which is truly international in scope. With employees spanning seven states in the U.S., UK, Madrid, Spain, Lugano, Switzerland, and Canada, our diverse backgrounds and experiences create a rich and dynamic working environment. English may be our common language, but the blend of cultures and perspectives is a source of great strength and inspiration for us at DeNexus. 

 

We are particularly proud that 30% of our workforce, in a field typically dominated by men, are women – a testament to our commitment to diversity and inclusion. 

 

Advanced analytics and artificial intelligence(AI) underpin everything we do and DeNexus would not exist without the exceptional team of data scientists and AI PhDs on board, led by the talented Romy Ravines, PhD. We are also immensely grateful for our partnerships with universities in Madrid, Spain, and their research teams, who continuously contribute ideas and innovations to our challenging AI and ML projects. 

 

As we celebrate this significant milestone, we are filled with a sense of pride and accomplishment, but also a renewed sense of purpose and determination. DeNexus has truly emerged as a trailblazer in the field of OT cyber risk quantification & management, and we remain committed to pushing the boundaries of innovation and delivering exceptional value to our customers.

 

We are looking forward to the next chapter!

 

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