DeNexus, a Boston, MA-based provider of end-to-end cyber risk management for operational technology (OT), has raised $17.5 million in Series A funding.
Investors
The round was led by Punja Global Ventures, with support from AXA XL, Prosegur/SegTech, and HCS Capital.
Founded in 2022, Punja Global Ventures is a venture capital firm based in Houston, Texas. PGV invests in and supports startups focused on solving enterprise problems with foundational technologies such as AI/ML, blockchain, and data services.
Rimmo Jolly, a co-founder of Punja Global Ventures, joins DeNexus' Board, with Libby Benet of AXA XL becoming a Board Observer.
DeNexus Use of Funds
The investment will accelerate DeNexus' growth and enhance its AI/ML-powered cyber risk management platform, DeRISK. The funds will support expansion in critical infrastructure cybersecurity markets across the U.S., EMEA, and APAC regions.
About DeNexus
DeNexus is a cybersecurity company that provides end-to-end cyber risk management for industrial networks. The company aims to establish a global standard in industrial cyber risk management for risk owners, shareholders, investors, boards, and the risk transfer market. By employing advanced simulation, AI, ML, and internal OT network data in its flagship product, DeRISK™, DeNexus forecasts incident probabilities and translates them into quantifiable financial risks. Trusted by Global 1000 companies in energy, manufacturing, transportation, and data center operations, DeNexus has deployed its solutions at over 200 sites across the USA, UK, and Europe.
Funding Details
Company: DeNexus, Inc.
Raised: $17.5M
Round: Series B
Funding Date: October 2024
Lead Investor: Punja Global Ventures
Additional Investors: AXA XL, Prosegur/SegTech, HCS Capital
Company Website: https://www.denexus.io/
Software Category: Cybersecurity Management
Source: https://blog.denexus.io/resources/denexus-secures-17.5m-funding