DeNexus, a provider of cyber risk modelling solutions, has raised $17.5 million in a Series A funding round led by Punja Global Ventures with participation from AXA XL, Prosegur/SegTech and HCS Capital.
From what Reinsurance News understands, DeNexus will use the funding to boost its growth and expand its product offerings and markets.
As part of this investment, Rimmo Jolly, co-founder at Punja Global Ventures, will be joining DeNexus’ Board of Directors, while Libby Benet, Global Chief Underwriter Officer at AXA XL, will also reportedly join as a Board Observer.
This new funding positions DeNexus to effectively address the growing need for extensive cyber risk management within industrial environments, ultimately helping businesses navigate the landscape of cybersecurity threats and regulations.